HOW TO SOAR THROUGH YOUR MONTH & YEAR-END CLOSE Bob McAdam | VP Finance | Dynamic Communities | Tampa, FL

What about Bob? Dynamics GP implementer & business development resource with two large partners for 13+ years Migrated from accounting gigs to Dynamics GP consulting in Jan 1998 (v4.0 then) Active w/ GPUG & GPUG Academy since inception (2007 & 2008, respectively) Former GP customer/end user at www.trucks.com Microsoft Certified Trainer (circa 2004) Inaugural GPUG ‘All-Star Award’ recipient (Nov 2011) Inaugural ‘Richard Whaley Academy Award’ recipient (Oct 2014) Dynamics World (UK) ‘Top 100 Most Influential in Microsoft Dynamics’ (May 2012 and May 2013) Dynamics GP Exam Certification Committee at www.dynamicspro.org Co-Host of ‘Enterprise Software Podcast’ www.enterprisesoftwarepodcast.com

Agenda Goals Review year-end checklist Review month- and year-end processes Provide help with specific issues Review year-end checklist Overview and comments Step through applicable windows in Microsoft Dynamics 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.

Year-end checklist Finalize any/all applicable transactions Reconcile subledgers to G/L Print necessary reports and file Make a backup when finished Now you’re ready to begin the closing process...

Module closing order Sales Order Processing (SOP) and Purchase Order Processing (POP) Inventory Receivables Payables Fixed Assets Payroll General Ledger

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

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Closing subledgers properly SOP & POP modules No specific year-end 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>Received/Not Invoiced A Historical Received/Not Invoiced report coming w/ Dynamics GP 2016

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

Closing subledgers properly Inventory Control (IC) Wrap up year-end physical count and related variance/adjustment transaction postings Run the IC year-end closing process Routines>Inventory>Year-end Close Notes: Inventory Batches – “Post to G/L” check box Reports>Inventory>Activity>Stock Status and Historical

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

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

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

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 Print 1099s after closing PM? Yes - 1099 printing is unrelated to closing Payables Management

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

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 Area Page)>Fixed Assets>Year-end

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

Closing subledgers properly United States Payroll (UPR) Year-end processing ALWAYS done @ 12/31 Confirm status of any new updates from Microsoft Process final payroll and period/quarter procedures Build the Year-end Wage file/table (UPR10101) Routines>Payroll>Year-end Closing Holds all info needed to produce W-2s and 1099-Rs Review and edit W-2s and 1099-Rs (if needed) Routines>Payroll>Edit W-2s Routines>Payroll>Edit 1099-Rs

Closing subledgers properly United States Payroll (continued)… Print W-2s and 1099-Rs Routines>Payroll>Print W-2s Routines>Payroll>Print 1099-Rs Apply new Microsoft 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

Module closing order SOP & POP Inventory Receivables Payables Fixed Assets Payroll General Ledger

Time for another backup…

Finalizing the year-end close General Ledger (GL) ALWAYS the final module to be closed!! Doesn’t need to be closed immediately Finalize any adjustments; post ‘Single Use’ batches Print Detailed T/B and Microsoft Management Reporter financials (optional) SKIP the ‘Period Consolidation’ window Combines transaction details into a single summary balance for each account carried forward to the next period. Remember, hard drive space is cheap.

Finalizing the year-end 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’ and R/E account while in 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) Brings your Balance Sheet beginning balances forward

Finalizing the year-end close Ancillary items Before closing G/L, create a simple ‘Accounts’ SmartList and review “Posting Type” settings KB# 864913 provides ‘surgical’ fix steps Close the TEST database first if you prefer (really good idea) Fiscal Periods Setup Maintenance Setup (Administration Area Page)>Company>Fiscal Periods Be sure all 2015 module boxes are closed Create a new calendar for 2016 module postings

If closing in Microsoft Dynamics GP 2013

If closing in Microsoft Dynamics GP 2013

If closing in Microsoft Dynamics GP 2013

If closing in Microsoft Dynamics GP 2013 R2

One last idea… Please ‘Vote for Bob’ at the Dynamics IDOL contest at 1:15pm TODAY during the “GPUG Welcome” General Session in Hall 3!

Questions? Bob McAdam Dynamic Communities, Inc. bob.mcadam@dynamiccommunities.com http://www.linkedin.com/in/bobmcadam “Bob’s BloGPipes” periodically at: http://www.tinyurl.com/blogpipes http://www.enterprisesoftwarepodcast.com