KB 851140
Applies to: Microsoft Dynamics GP
INTRODUCTION
This article describes the effects of performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31.
MORE INFORMATION
When you post transactions in Microsoft Dynamics GP, the system automatically posts to the correct fiscal year and calendar year according to the dates of the transactions. You can view the amounts of the transactions in the Customer Summary window. To do this, follow these steps:
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On the Cards menu, click Sales , and then click Summary . |
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Click a customer. |
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Click either Fiscal Year or Calendar Year , and then type the appropriate year or period in the field. |
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Click Calculate . |
Notice that the year-end closing routine has not changed because of the Date Sensitive enhancement. Closing the Fiscal Year will affect the Amounts Since Last Close view within the Customer Summary window. To open this window, click Sales on the Cards menu, and then click Summary .
The Date Sensitive enhancement provides the following new options for viewing the data by date:
Three summary views in the Customer Summary window:
• Amounts Since Last Close
• Fiscal Year
• Calendar Year
• Viewing enhancements in the RM Sales Analysis window.
• Viewing enhancements in the RM Period Sales Analysis window.
• The Customer Period Summary window. To open this window, click Sales on the Cards menu, click Summary , and then click History .
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EXAMPLE: The following example shows how the year-end closing routine handles a specific transaction dated in the following 2022 year if the prior 2021 year had not yet been closed:
Note This sample procedure uses Fabrikam, Inc., the sample company for Microsoft Dynamics GP. This sample assumes that the current open 2021 calendar year has not yet been closed in Receivables Management.
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With the current 2021 year still open, set the user date in the new year (for testing in Fabrikam). To do this, follow the below step: • In Microsoft Dynamics GP, click Microsoft Dynamics GP , and then click User Date . |
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Type 01/01/2022 , and then click OK . |
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Click Transactions , point to Sales , and then click Transaction Entry to open the Receivables Transaction Entry window. |
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Create and then post an invoice. To do this, follow these steps:
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On the Cards menu, point to Sales , and then click Summary . |
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In the Customer ID list, click SINCLAIR0001 , and then click Amount Since Last Close in the Summary View list. |
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Click Close . |
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Close the Sales year: In Microsoft Dynamics GP, point to Tools on the Microsoft Dynamics GP menu, point to Routines , point to Sales , and then click Year-End Close . |
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Click Process to close the year. |
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On the Cards menu, point to Sales , and then click Summary to open the Customer Summary window. In the Customer ID list, click SINCLAIR0001 , and then click Amount Since Last Close in the Summary View list. |
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In the Summary View list, click Calendar View , and then click Calculate . The $100.00 Sales amount appears in the Year-to-Date column since this view is date-sensitive. |
For more information about how to perform the year-end closing routine, click the following article number to view the article in the Microsoft Knowledge Base:
857444 Year-end closing procedures for Receivables Management in Microsoft Dynamics GP
This article was TechKnowledge document 20542.
