Beginning Balances don't appear correctly on the Balance Sheet

Applies to:   Microsoft Dynamics GP
Original KB number:   856112

Symptoms

Beginning Balances for the current year don't show on the Advanced Financial Analysis Balance Sheet report for the month of January.

Resolution

You'll need to close the previous fiscal year (Routines > Financial > Year End Closing), using the steps that are outlined in Year-end closing procedures for General Ledger in Microsoft Dynamics GP. If you don't close the fiscal year, your Balance Sheet Accounts won't have a beginning balance created for them. Your Profit and Loss accounts will still hold a balance, as this amount hasn't yet passed through the Retained Earnings account. Both of the above procedures will occur when you run through a successful year end close.