1. GPUG All Star; Dynamic Communities
Year-End Close:
Tips & Tricks
Authored by Bob McAdam
GPUG All Star; Dynamic Communities
Regional Chapters

2. AGENDA Goals Review Year-end Checklist
Review the common year-end process
Provide help with specific issues
Review Year-end Checklist
Overview & Comments
Step through applicable windows in GP
In this session we will cover the main steps and certain tips regarding year-end closing. I am assuming that your year-end is December 31st.
We will also look into some of the materials and tools available from Microsoft and Tribridge.
Finally, we will leave time for Questions and Answers and maybe some debate among your peers.
Before we start, I would like to get an idea of what your expectations are and what areas you expect me to cover. Specifically, I would like to know if your company utilizes the Dynamics GP Payroll module. Please indicate which year-end payroll process you are using via a group poll so I can tailor the webinar based on your company’s needs.
Ok then. Unless you have any questions or comments, let’s get started. Again, I will mute the line until we’re ready for questions.

3. YEAR-END CHECKLIST Finalize any/all applicable transactions
Reconcile submodules to G/L
Print necessary reports & file
Make a backup when finished
Begin closing process

4. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

5. Did you make your backup yet???!!!!

6. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

7. CLOSING SUBLEDGERS PROPERLY
SOP & POP modules
No specific Y/E close process in either module
SOP: Double-check for any applicable invoices/returns and post
POP: Double-check for any applicable receivers/invoice matches and post
POP: Received/Not Invoiced report ties out your ‘Accrued Purchases’ liability account
Reports>Purchasing>Analysis>Rec’d/Not Invoiced

8. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

9. Time for another backup…

10. CLOSING SUBLEDGERS PROPERLY
Inventory Control (IC)
Wrap-up year-end physical count & related variance/adjustment transaction postings
Run the IC year-end closing process
Routines>Inventory>Year-end Close
Notes:
Inventory Batches – “Post to G/L” checkbox
Discussion of ‘Master Posting’ window
Reports>Inventory>Activity>Stock Status Report

11. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

12. Time for another backup…

13. CLOSING SUBLEDGERS PROPERLY
Receivables Management (RM)
Complete monthly processes, including posting all non-recurring RM batches, aging reports, etc.
Review ‘Unapplied Documents’ report
Reports>Sales>Analysis>Unapplied Documents
Run the RM year-end closing process
Routines>Sales>Year-end Close
Save new year transactions to batches for now
Discussion of ‘Customer Summary’ window

14. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

15. Time for another backup…

16. CLOSING SUBLEDGERS PROPERLY
Payables Management (PM)
Complete monthly processes, like RM module
Run 1099s for tagged Vendors (if needed)
Routines>Purchasing>Print 1099
Edit 1099s: Cards>Purchasing>Summary>Period
Run the PM year-end closing process
Routines>Purchasing>Year-end Close
Two closes required if not on calendar year
One for 1099s; one for year-end process

17. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

18. Time for another backup…

19. CLOSING SUBLEDGERS PROPERLY
Fixed Assets Management (FAM)
Close out Payables module before beginning
Double-check that all transactions – additions, retirements, etc. – are posted
Double-check that final depreciation routine and related G/L interface process are complete
Run the FAM year-end closing process
Routines (Financial Tile)>Fixed Assets>Year-end

20. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

21. Time for another backup…

22. CLOSING SUBLEDGERS PROPERLY
United States Payroll (UPR)
Year-end processing ALWAYS 12/31
Confirm status of any new updates from Microsoft
Process final payroll & period/qtr procedures
Build the Year-end Wage file/table (UPR10101)
Routines>Payroll>Year-end Closing
Holds all info needed to produce W-2s & 1099-Rs
Review & Edit W-2s & 1099-Rs (if needed)
Routines>Payroll>Edit W-2s
Routines>Payroll>Edit 1099-Rs

23. CLOSING SUBLEDGERS PROPERLY
United States Payroll (continued)…
Print W-2s & 1099-Rs
Routines>Payroll>Print W-2s
Routines>Payroll>Print 1099-Rs
Apply new Dynamics GP Tax Tables
Available via ‘CustomerSource’ download
Maintenance>US Payroll Updates>Check for Updates
Typically, new tax tables installed after payroll close
New calendar year payroll can now be processed

24. MODULE CLOSING ORDER SOP & POP Inventory Receivables Payables
Fixed Assets
Payroll
General Ledger

25. Time for another backup…

26. FINALIZING THE Y/E CLOSE
General Ledger (GL)
ALWAYS the final module to be closed!!!
Doesn’t need to be closed immediately like others
Finalize adjustments; post ‘Single Use’ batches
Print Detailed T/B & MR/FRx financials (optional)
SKIP the ‘Period Consolidation’ process
Routines>Financial>Period Consolidation

27. FINALIZING THE Y/E CLOSE
General Ledger (continued)…
Double-check ‘Posting to History’ setting
Setup>Financial>General Ledger
Allows posting to most-recent closed fiscal year only
Also check ‘Maintain History’ & R/E acct. while here
Run the G/L year-end closing process
Routines>Financial>Year-end Closing
Click ‘Close Year’ button only once !
Edit R/E account and/or next JE number (not common)
Issue w/ financials if delayed past 1st new acctg period

28. FINALIZING THE Y/E CLOSE
Ancillary items (iii)
Before closing G/L, create a simple ‘Accounts’ SmartList and review “Posting Type” settings
KB# provides ‘surgical’ fix steps
Close the TEST database first if you prefer
Fiscal Periods Setup Maintenance
Setup (Administration Tile)>Company>Fiscal Periods
Be sure all 2010 module boxes are closed
Create a new calendar for 2011 module postings

29. IF CLOSING IN GP 2013…

30. IF CLOSING IN GP 2013…

31. IF CLOSING IN GP 2013…

32. Questions?