Month & Year-End Closing At Its Best Presented By: Zubin Gidwani, Founder, Dynamic Budgets Prepared By: Bob McAdam, Vice President of Finance Dynamic Communities, Inc.

#GPUGsummit Who is Zubin? – Former GP customer/end user Assistant Controller & Financial Systems Manager for public Company Maui Land & Pineapple Company – Tired of banging head into desk trying to manually manage 600+ department budgets, prototyped a solution after Microsoft announced the end of Forecaster, launched Dynamic Budgets in – Active w/ GPUG since inception (2007) – Former member of the GPUG Board of Advisors – Content Steering Committee for Microsoft Convergence and GPUG Summit – Inaugural GPUG ‘All-Star Award’ recipient (Nov 2011) – Implemented GP for GPUG, consulted on their website, developed Share My Code – Microsoft Certified Professional 2004 – Dynamics World - Top 50 Add On Products 2013

#GPUGsummit Agenda Goals – Review the common year-end process – Provide help with specific issues Review Year-end Checklist – Overview & Comments – Step through applicable windows in GP

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

#GPUGsummit Did you make your backup yet???!!!!

#GPUGsummit Module Closing Order SOP & POP SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Inventory Receivables Payables Fixed Assets Payroll General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Receivables Payables Fixed Assets Payroll General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Payables Payables Fixed Assets Payroll General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Payables Fixed Assets Fixed Assets Payroll General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Payables Fixed Assets Payroll Payroll General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit 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

#GPUGsummit 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

#GPUGsummit Module Closing Order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger General Ledger

#GPUGsummit Time for another backup…

#GPUGsummit Finalizing the Y/E Close General Ledger (GL) – ALWAYS the final module to be closed!!! Doesn’t need to be closed immediately – Finalize adjustments; post ‘Single Use’ batches – Print Detailed T/B & MR/FRx financials ( optional )

#GPUGsummit 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 1 st new acctg period

#GPUGsummit 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 2013 module boxes are closed Create a new calendar for 2014 module postings

#GPUGsummit If Closing in ‘GP 2013’…

#GPUGsummit If Closing in ‘GP 2013’…

#GPUGsummit If Closing in ‘GP 2013’…

#GPUGsummit Questions? Zubin Gidwani Dynamic Budgets