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Microsoft Dynamics GP Year End Release 2011 – Receivables Management Year End Close

  • Articolo

Below you will find some tips to help ensure that your Receivables Management Year End Close process goes smoothly for you!

When should the Year End Close for Receivables Management be done?

1. If you are using a Calendar year, the year-end process should be done at the end of your calendar year, prior to posting any transactions for the next calendar year.

2. For those using a Fiscal year, the year-end process should be done at the end of your fiscal year, prior to posting any transactions for the next fiscal year.

 

What does the year end close process do and/or affect?

1. The Calendar year end close, clears the Calendar Year-to-Date Finance Charges and moves them to the Last Year Calendar field in the Customer Finance Charge Summary window found under (Cards – Sales – Summary – Finance Charges)

2. The Fiscal Year end close transfers all amounts other than the Calendar Year-to-Date Finance Charge amount to the Last Year column in the Customer Summary window using the Amounts Since Last Closed View, found under (Cards –
Sales - Summary)

 

What steps should I take to close the year?

Post all transactions for the current year and then proceed through the rest of the steps outlined in KB857444, titled “Year-end closing procedures for Receivables Management in Microsoft Dynamics GP”

 

Key points to remember:

1. Make a restorable backup when it is recommended as you work through KB857444

2. Receivables Management is not completely date sensitive, meaning that if you do not close the year after you enter all the 2011 transactions and before you enter all the 2012 transactions, some areas in GP will contain incorrect information.

3. As there are some date sensitive features, your best option would be to close the year on time.

 

Assistance for the Receivables Management Year End Close

Microsoft Dynamics GP Blog - blogs.msdn.com/b/dynamicsgp/

Microsoft Dynamics Community - https://community.dynamics.com/product/GP/default.aspx

Microsoft Dynamics Support - https://mbs.microsoft.com/support/newstart.aspx

 

If you are creating a case with the Technical Support Team, please refer to the routing below to ensure you are routed to the correct Professional for assistance.

Assistance with the Receivables Management Year End Close
--Support Topic Selection: Financial - Receivables Management
---Sub-topic Selection: Year End Procedures

 

Resources:

Year-end closing procedures for Receivables Management in Microsoft Dynamics GP
https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;EN-US;857444

Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31                                               
https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;EN-US;864622

How to remove outdated statement runs from the Reprint Statements window in Microsoft Dynamics GP                        
https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;EN-US;855316

****New for the 2011 year, there is a Year-End Video!!!!****
Check it out....SO COOL!
www.microsoft.com/showcase/en/us/details/91697dc7-4926-4144-8626-ca0eb8e284da

 

Be sure to check back to the Year-End Schedule post for current posted blogs and upcoming blog posts related to Year-End Closing for Dynamics GP.

Have a great Year End!

Shannon A.

Comments

  • Anonymous
    November 28, 2011
    Great article!

  • Anonymous
    December 05, 2011
    See the following post for a list of all the related Year End articles: blogs.msdn.com/.../2011-us-payroll-year-end-updates-for-gp-10-and-gp-2010-are-now-available.aspx

  • Anonymous
    December 13, 2011
    I notice that in microsoft's instructions for closing receivables management(KB857444) and payables management (KB875169) - both instructions say to 'Close the tax year' by going to MS Dynamics-->Routines-->Company-->Tax Year-End Close.  Do I actually do this twice? once during the receivables management close and then again during the payables management close? Thanks - Great article by the way!!

  • Anonymous
    December 13, 2011
    You would only have to do that once, typically after both RM/PM are closed out. The reason that we list it in both sections is because some users may not use both the RM and PM modules. I hope that helps to answer your question.

  • Anonymous
    January 30, 2012
    I noticed that our AP and AR year-end close window dated the last closed was 12/31/2009.  If we want to close the year 2010, I triggered the year-end close window in both AP and AR in test company (we want to dry-run the process first before doing it in production).  The system date close will be dated as of Jan 30, 2012 (as of today's date).  How would l know the system will only close 2010 and 2011? Thanks, Josephine

  • Anonymous
    February 06, 2012
    Hi Josephine, We do ask that you only post comments relating to the topic of this page and not requests for technical assistance. You issue appears to be more of a technical support break/fix issue. If you wish to ask a technical question, please submit your inquiry to the Community Forums. If you ask on the Community Forums (community.dynamics.com/.../default.aspx), others in the community can respond and the answers are available for everyone in the future. Your other option for technical support questions is to enter a support request. Thank you for understanding. Dave B