Stop the madness - How to balance to the GL Amber J. Bell

Amber j. bell Training Dynamo | www.trainingdynamo.com Named GPUG All-Star in 2016! Favorite benefit: GPUG Chapter Meetings! A little bit about me: Named GPUG All Star in 2016! Grew up in San Diego Moved to chilly New England 10 years ago from sunny San Diego Over 15 Years as a GP Consultant Wrote Microsoft Dynamics GP: Year-End Closing Workbook!

 Check Batch recovery and Master Posting Batch Recovery – The seedy underbelly of batch posting Administration > Routines > Batch Recovery Cause #1: Closed Fiscal Period Cause #2: Unbalanced Distributions Cause #3: “Power” issues Cause #4: Account settings Review Master Posting Administration > Routines > Master Posting Use Batch Comments to communicate batch status info Require Batch Approval to prevent accidental posting

 When batch recovery doesn’t work… Call your partner Backup GP before doing any changes in SQL Follow Steps in KB Article 850289: https://support.microsoft.com/en-us/kb/850289

 print key reports GL Trial Balance Print in Summary and Detail Filter to your control accounts Payables, Receivables and Inventory: Historical Aged Trial Balance Use SQL Reporting Services Report if possible so that you can save to Excel or PDF Purchase Order Processing Print Received/Not Invoiced under: Purchasing>>Analysis

Pages 41-42 @GPUG

 Sample: Historical AP Trial Balance setup

 Setup Account Rollups Great way to deal with multiple Inventory, AR, or AP accounts Allows for Drill-down to balance by account Great way to deal with Track Discounts Available option

Pages 81-86 @GPUG

 How to Compare your numbers Compare the totals on your subledger reports vs. the GL Trial Balance, Management Reporter, GL Summary Inquiry, or Account Rollup Inquiries Did you balance with the ending balances of your old system? SAVE YOUR SPREADSHEET! That way you can “prove” that something changed

 everything balances…NOW WHAT? Close the Fiscal Periods Administration > Setup > Company > Fiscal Periods Don’t take any chances! Restrict access to this window You can close the subledgers before you close GL

 YOU FOUND A DIFFERENCE…STAY CALM! Close the Fiscal Periods ANYWAYS Re-open later if you need to post corrections Check if you were off in a previous period Did you include ALL accounts that add up to the subledger total? Be sure to include Discount Accounts Most common issue: Journal Entry to a Control Account Double-check that ALL batches for the month are posted

 Use the “Reconcile” Utility Financial > Routines > Reconcile to GL

 Option 2: Use “The Closer” from Reporting Central This add-in tool gives you the reason you are out of balance! The “Closer” is an add-on tool. We recommend it if you are having issues balancing the subledgers that are not included with the Standard GP reconcile tool. Also, it provides you with the REASON you are out of balance! If you are interested in a demo, let us know!

 Searching for multiple control accounts If you have several accounts make up the subledger total: Add User Defined Field on GL Account Maintenance window Use this field in your SmartList, Navigation List and report searches

 Smartlist for who, what, when, where Start with: Financial >> Account Transactions* SmartList Add the following columns: Originating Master ID Originating Master Name Originating Document Number Document Status Reference Description Save as a new Favorite: *GL Transactions – With Trx Info

 Using SmartList to Troubleshoot Setup a SmartList based on Favorite: *GL Transactions – With Trx Info Filter to AP or AR Account(s) Filter to Series (Is Not Equal To) Purchasing (for AP) Filter to Series (Is Not Equal To) Sales (for AR)

 Preparing your data for a pivot table Export from SmartList or use an Excel Report Format as a Table Insert a column for the difference between Debits and Credits

 Using Pivot Tables to group transactions Group by Series Group by Document Status Account Number or Description Group by Master Name

 How to fix Before you try to “fix,” check if someone else has corrected in another period Best option: Void and Re-enter transactions or use Reporting Central’s Corrector 2nd Option: Enter Credit or Debit Memo to reverse transaction. Re-Enter correctly Try to Avoid: Entering as a Journal Entry (This does not update the subledger)

 How to prevent future issues

 Uncheck “Allow Account entry”

 Review Financial Module setup Financial > Setup > General Ledger Uncheck: Deletion of Saved Transactions

 Review Posting Settings Administration > Setup > Posting > Posting Post Through vs. Post To Require Approval Prevent Transaction Level Posting

 Review Default posting Accounts Transaction Item Customer or Vendor Posting Accounts Setup If you only have 1 control account, set it in the Posting Accounts window (Administration > Setup > Posting > Posting Accounts) Be careful if you are adding the control account on the Customer or Vendor Review Customer and Vendor Setup in SmartList

 Review vendor/customer setup Update Customers/Vendors by Rolling Down Changes from Class

 Separate Payment Distributions Administration > Setup > Company > Company > Options

 accrued Purchases/received not invoiced Payables Setup: Purchasing > Setup > Payables Warn If Vendor Has Existing Purchase Order Purchase Order Setup: Purchasing > Setup > Purchase Order Processing Warn when Purchase Order Line Item is Not Fully Invoiced Turn-Off Allow Receiving without a Purchase Order Consider using a 2nd Accrued Purchases Account for Landed Cost

 Setup Inventory Reason Codes Inventory > Setup > Reason Codes Prevents common user mistakes Gives you control of Distributions

Contact Information: @GPUG