Authored by Bob McAdam, Authored by Bob McAdam, GPUG All Star, Tribridge Regional Chapters

AGENDA  Goals – Review the common year-end process – Provide help with specific issues  Review Year-end Checklist – Overview & Comments – Step through applicable windows in GUI

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

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters Did you make your backup yet???!!!!

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters CLOSING SUBLEDGERS PROPERLY  Inventory Control (IC) – Wrap-up year-end physical count & related variance/adjustment transaction postings – Reconcile--can be ran a few days before closing – Run the IC year-end closing process Routines>Inventory>Year-end Close

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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 – Age Customer Accounts – Transfer Commissions Tools>Routines>Sales>transfer commissions – 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

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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 – Sales Tax Year End Close Routines>Company>Tax Year End Close – Run the PM year-end closing process Routines>Purchasing>Year-end Close

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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

Regional Chapters 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

Regional Chapters MODULE CLOSING ORDER  SOP & POP  Inventory  Receivables  Payables  Fixed Assets  Payroll  General Ledger

Regional Chapters 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 – Run Check Links on Financial tables – Print Detailed T/B & MR/FRx financials (optional)

Regional Chapters 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 – Review Posting Types (using ‘Accounts’ Smartlist) – MAKE A BACKUP!

Regional Chapters FINALIZING THE Y/E CLOSE  General Ledger (continued)… – MAKE A BACKUP! – Print Financial Reports (TB, Financial Stmts) – 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 1 st new acctg period

Regional Chapters FINALIZING THE Y/E CLOSE  Ancillary items (iii) – Before closing G/L, create a simple ‘Accounts’ SmartList and review “ Posting Type ” settings – Fiscal Periods Setup Maintenance Setup (Administration Tile)>Company>Fiscal Periods Be sure all 2013 module boxes are closed Create a new calendar for 2014 module postings

Regional Chapters QUESTIONS?