1. Standard Year-End Close Procedures

2. Welcome! Microsoft Dynamics GP
Standard
Year-End Close Procedures

3. 2016 Year-End Blog Series
Follow the Year-End Blog Series for detailed information about changes for the 2016 year!!

4. Agenda Install & Upgrade Inventory Control Receivables Management
Payables Management
Fixed Assets
Analytical Accounting
General Ledger
US Payroll/Canadian Payroll
The order that the modules should be closed are the order that the modules are listed here in the agenda (and also listed at the top of the GL year-end KB #888003). Note that Payroll year-end procedures are independent from the other modules and is always performed at the end of the calendar year.

5. Install & Upgrade Overview
All Updates are cumulative
All prior service packs, hotfixes, compliance, and year end updates are included in the most recent release
The update must be installed at all servers and workstations that have a Microsoft Dynamics GP installation otherwise a version error will occur

6. Pre-Install & Upgrade Tips
Backup the DYNAMICS database and all company databases
Export all modified reports and forms to package files (Microsoft Dynamics GP | Tools | Customize | Customization Maintenance)
Backup the modified reports and forms .DIC files (Refer to the Dynamics.set file for the path to the modified .DIC files)
Configure a test environment to test the upgrade prior to installing in the live environment

7. Install & Upgrade Tips
User running the update must have local admin rights
Two components to the first update installation:
Update application install
Upgrade DYNAMICS and all company databases in Microsoft Dynamics GP Utilities
Typically the update is installed at the SQL Server first to upgrade the databases in Microsoft Dynamics GP Utilities

8. Install & Upgrade Tips
Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations
If the installation of the MSP fails, refer to the Windows Installer Log or Windows Event Viewer for more information. Refer to KB for steps to create a Windows Installer Log
Search for “Return Value 3” in the Windows Installer Log
If the installation of the MSP fails, try installing via the command line. Refer to KB #A13 for steps
How to Enable Windows Installer Logging
Frequently Asked Questions about the Windows Install .msp files for Microsoft Dynamics GP

9. Install & Upgrade Tips
Enable a Dexsql.log prior to upgrading the databases in Utilities. Refer to KB for steps
If the database upgrade fails, do not restore the databases as all troubleshooting can take place at the point of failure
If a red X appears next to the company name in the Update Company window, the table conversion failed. Refer to the Support Information Section of the Upgrade Hot Topic for GP 2013 or GP or GP 2016 for troubleshooting steps
How to Create a Dexsql.log file to troubleshoot error messages in Microsoft Dynamics GP
Upgrading to Microsoft Dynamics GP
Upgrading to Microsoft Dynamics GP 2015
Upgrading to Microsoft Dynamics GP 2016

10. Install & Upgrade Tips
All modified reports and form dictionaries must be upgraded using the Update Modified Forms and Reports process at the Additional Tasks window in Microsoft Dynamics GP Utilities
If all modified reports and form dictionaries are shared, only upgrade the dictionaries once
The MSP file can be pushed out to client workstations using Automatic Client Update, Group Policy or other mass deployment tools

11. Post-Install & Upgrade Tips
Backup the DYNAMICS database and all company databases following the upgrade
Export all modified reports and forms to package files following the upgrade (Microsoft Dynamics GP | Tools | Customize | Customization Maintenance)

12. Inventory Control Year End
When should the close be done?
The Inventory module should be closed at the end of your Fiscal year, before any new transactions that would affect inventory quantities are posted

13. Inventory Control Year End
What does the year end close process do and/or affect?
Transfers all summarized current-year Quantity, Cost and Sales amounts to last-year for the Items for which you have been keeping summarized Sales History  
Updates each Item’s Beginning Quantity from the Quantity on Hand at each site
Zeros the Quantity Sold field in the Item Quantities Maintenance (Cards - Inventory – Quantities/Sites) for each Site
Gives you the option to: Remove Discontinued Items, Remove Sold Receipts, Remove Sold Lot Attributes, and Update Item’s Standard Cost

14. Inventory Control Year End
What steps should I take to close the year?
Enter and post all Purchase Order Processing, Invoicing/Sales Order Processing, and Inventory transactions for the current year
Follow the rest of the steps outlined in KB : “Year-End closing procedures in Inventory Control in Microsoft Dynamics GP”
Year-End closing procedures in Inventory Control in Microsoft Dynamics GP

15. Inventory Control Year End
What are some of the key points to remember?
Make restorable backups when recommended
in KB
If you are using Sales Order Processing and/or Purchase Order Processing, reconcile these modules in addition to the Inventory module prior to closing
Reconcile Order: SOP, POP, and then Inventory
Year-end may be an opportune time to implement the Historical Inventory Trial Balance (HITB) report (Dynamics GP 10.0 SP2 and later versions)
Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP

16. Inventory Control Year End
What are some of the related KnowledgeBase articles that can be referenced?
KB : “Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP”
KB : “Information about the order in which the reconcile procedures should be run in Microsoft Dynamics GP”
KB : “Inventory Accidentally Closed Twice”
KB : “Inventory year end close does not remove discontinued items”
Year-End Closing procedures in Inventory Control in Microsoft Dynamics GP
Information about the order in which the reconcile procedures should be run in Microsoft Dynamics GP
Inventory Accidentally Closed Twice
Inventory year end close does not remove discontinued items

17. Receivables Management Year End
When should the close be done?
Both the Calendar Year end and Fiscal Year close should be done at the end of the calendar year prior to posting any transactions in the next calendar year

18. Receivables Management Year End
What does the year end close process do and/or affect?
The Calendar Year end close clears the Calendar Year-to-Date Finance Charges and moves them to the Last Year Calendar field in Customer Finance Charge Summary (Cards – Sales – Summary – Finance Charges)
The Fiscal Year end close transfers all amounts other than the Calendar YTD Finance Charge amount to the Last Year column in Customer Summary using the Amounts Since Last Closed View (Cards – Sales – Summary)

19. Receivables Management Year End
What steps should I take to close the year?
Post all transactions for the current year
Follow the rest of the steps outlined in KB : “Year-end closing procedures for Receivables Management in Microsoft Dynamics GP”
You will notice that we have two KB's around closing Receivables Management(KB857444) and Payables Management (KB875169) - both instructions say to 'Close the tax year by going to MDGP | Routines | Company | Tax Year-End Close. You will 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.
Year-end closing procedures for Receivables Management in Microsoft Dynamics GP
Year-end closing procedures for Payables Management module in Microsoft Dynamics GP

20. Receivables Management Year End
What are some of the key points to remember?
Make restorable backups when recommended in KB
Receivables Management is not completely date sensitive
As there are some date sensitive features the best option to close the year on time
Year-end closing procedures for Receivables Management in Microsoft Dynamics GP

21. Receivables Management Year End
What are some of the related KnowledgeBase articles that can be referenced?
KB : “Year-end closing procedures for Receivables Management in Microsoft Dynamics GP”
KB : “Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31”
KB : “Removing outdated statement runs from the Reprint Statements Window”
Year-end closing procedures for Receivables Management in Microsoft Dynamics GP
Information about performing the year-end closing procedure in Receivables Management in Microsoft Dynamics GP after December 31
Removing outdated statement runs from the Reprint Statements Window

22. Payables Management Year End
When should the Year End Close be done?
The Calendar Year End Close Routine should be run at the end of the Calendar year prior to posting transactions in the new year
The Fiscal Year End Close Routine should be run at the end of the Fiscal year prior to posting transactions in the new year

23. Payables Management Year End
What does the Year End Close Process do?
In the Vendor Yearly Summary Window:
Calendar close- transfers the 1099 Amounts from Year to Date Column to Last Year column in the Amounts Since Last Close view
Fiscal close – transfers all other amounts from the Year to Date column to the Last Year column in the Amounts Since Last Close view .
NOTE: Remember that the Year End Close only affects the Vendor Yearly Summary window for the Amount Since Last Closed View which will affect other areas like SmartList YTD, LYR, and LTD amounts and also some summary reports. It will not affect the printing of your 1099s. If these amounts are incorrect because the year end close was not done at the correct time and you would like to fix them support does have scripts that can be ran to correct the Vendor Yearly Summary window.

24. Payables Management Year End
What steps should I take to close the year?
Post all transactions for the current year
Make sure transactions for the new year are saved, not posted
Make a backup
Follow the steps in KB : “Year-end closing procedures for the Payables Management module in Microsoft Dynamics GP”
Year-end closing procedures for the Payables Management module in Microsoft Dynamics GP

25. Payables Management Year End
What are some important points to remember?
Follow the steps as outlined in KB
Payables Management is not fully date sensitive, so it is still recommended that you process your year end closing routines at the actual year end
Vendor should be marked as 1099-able at the time transactions are posted/paid for 1099 Information to auto-populate
Use KB to correct this
Use 1099 Details window to edit 1099 amounts individually (Cards | Purchasing | 1099 Details)
Year-end closing procedures for the Payables Management module in Microsoft Dynamics GP
How to change the 1099 amount for a vendor who was not marked as a 1099 vendor in the year that the transactions were posted in Payables Management in Microsoft Dynamics GP

26. Payables Management Year End
What are some important points to remember?
Microsoft Dynamics GP 2013 Features:
Separate 1099 Address ID field on vendor card
Additional Box Numbers added for each Tax Type
Additional fields on the 1099 Details window
New functionality to edit 1099 information:
Edit 1099 Transaction Information window (per trx)
Update 1099 Information utility now has options for ‘Not a 1099 vendor’ tax type (per vendor)
Print 1096 Summary Form
The Update 1099 Information utility is not a new utility, but has options to mark a 1099 vendor as 1099able if you forgot, and visa versa, rather than using the 1099 Modifier tool. Do it from within GP.

27. Fixed Assets Year End Close
When should the Year End Close be done?
Fixed Assets Year End Close should be processed after Payables Management is closed, and before closing the General Ledger
Each book can be closed separately, but ALL books must be closed before you can do any processing in Fixed Assets for the new year

28. Fixed Assets Year End Close
What does the Year End Close process do?
In the Asset General Information Window (Cards >> Fixed Assets >> General):
The YTD Maintenance amount is cleared from the Expand last Maintenance Date Window
The Quantity is copied to the Begin Quantity field in the Expand Quantity Window
In the Asset Book Window (Cards >> Fixed Assets >> Book):
The YTD Depreciation Amount is cleared
Cost Basis is copied to Begin Year Cost field
Life to Date Depreciation is copied to Begin Reserve field
Salvage Value is copied to Begin Salvage field

29. Fixed Assets Year End Close
What does the Year End Close process do?
(continued)
In the Book Setup Window (Microsoft Dynamics GP >> Tools >> Setup >> Fixed Assets >> Book):
The Current Fiscal Year is increased for each closed book
Dynamics GP 2015 has Fixed Assets Year End report (Status report of all assets affected by the close)

30. Fixed Assets Year End Close
What steps should I take to close the year?
You must depreciate all assets through the last day of the current FA year before you close the year
Print all the reports that you will need for the year you are closing
Make a backup
Follow the steps in KB : “The year-end closing procedures for the Fixed Asset Management module in Microsoft Dynamics GP”
The year-end closing procedures for the Fixed Asset Management module in Microsoft Dynamics GP

31. Analytical Accounting Year End Close
When should the year-end close be done?
There is no separate year-end close process for AA. It automatically closes along with the GL year-end close, so any steps to check AA data should be done prior to closing the GL year.

32. Analytical Accounting Year End Close
What does the GL Year End Process do in AA?
Automatically moves open year AA data to historical tables (AAG3000x  AAG4000x)
Update AA tables with Balance Brought Forward (BBF) entry to match BBF in GL
Any dimensions marked to be included in Year End close will be consolidated and tied to BBF entry

33. Analytical Accounting Year End Close
What steps should I take to close the year?
Follow the steps in KB : “The year-end close procedures for Analytical Accounting”
Scripts to check AA data against GL (see KB )
Steps to mark AA dimensions to be consolidated during Year End Close
Utility to move historical year AA data to history (one-time process for customers that upgraded where last close process was done on GP 10 SP1 or prior)
No extra steps in AA to close the year. It is automatically closed as part of the GL year-end close process.
The year-end close procedures for Analytical Accounting
Financial Reports from Management Reporter do not match the General Ledger Trial Balance Reports in Microsoft Dynamics GP

34. Analytical Accounting Year End
What are some important points to remember?
AA automatically closes with General Ledger
Run through scripts in KB
Management Reporter (Data Mart) reads from AA tables
Make sure AA is installed and enabled on workstation where GL is being closed!
Make a backup

35. General Ledger Year End Close
When should the Year End Close be done?
The General Ledger Year End Close should be done after you have completed the Year End close process for all other modules
Other modules should be closed in the following order:
Inventory
Receivables
Payables
Fixed Assets

36. General Ledger Year End Close
What does the Year End Close process do?
The year end close routine moves all open year transactions from the GL20000 table to the GL30000 table
Creates balance brought forward (BBF) journal entries are created in the GL20000
Removes inactive GL accounts without a balance/history.
GP 2013 R2 and up will also clear out Unit Accounts if marked
The balances for all Balance Sheet accounts are rolled forward to the new year
The beginning balance in the new year for BS accounts will be the same as the ending balance from the prior year you are closing

37. General Ledger Year End Close
What does the Year End Close process do? (Cont.)
The Proft and Loss (P&L) accounts are rolled into Retained earnings account(s) if you close to one Retained Earnings account, or with the amount from the P&L accounts in that division if you close to divisional Retained Earnings
P&L accounts have a zero balance at the beginning of the new year
The Fiscal Period tables are updated to mark the year just closed as a historical year
Automatically closes Analytical Accounting
Year-end Close Report prints (cannot reprint)

38. General Ledger Year End Close
What steps should I take to close the year?
Follow the steps in KB : “Year-end closing procedures for General Ledger in Microsoft Dynamics GP”
If any errors or issues – RESTORE TO BACKUP
Year-end closing procedures for General Ledger in Microsoft Dynamics GP

39. General Ledger Year End Close
What are some important points to remember?
Make a backup! Don’t bypass errors!
Follow ALL the steps in KB
Have all other users out of Dynamics GP when you perform the year end close
Perform the Year End Close at the server
Make sure that you have enough free space on the server to allow for the GL20000 table to double in size
The year end close routine does appear to hang at 50%, but it is still processing, so let it run
Year-end closing procedures for General Ledger in Microsoft Dynamics GP

40. General Ledger Year End Close
What are some important points to remember? (Cont.)
Issue with Divisional Retained Earnings checkbox does not update GL40000 table if marked and unmarked
-Fixed in GP 2013
Microsoft Dynamics GP 2013:
Maintain inactive accounts in YEC window
Progress bar in YEC window
Option to clear balance per unit account
Microsoft Dynamics GP 2013 R2:
Checkbox to “Reverse Historical Year” in YEC window so you can un-do a year-end close
Quality issue Divisional Retained Earnings stays unmarked – Fixed in GP 2013

41. General Ledger Year End Close
What are some of the related KnowledgeBase articles that can be referenced?
KB : “Changing the posting type on an account after you close the year”
KB : “Query to clear beginning balances for unit accounts” (new options in GP 2013)
KB : “How to set up an adjusting period”
KB : “How to use divisional retained earnings accounts”
KB : “Retained Earnings account not found”
KB : “General Ledger year end close still in process and batches cannot be posted”
Year-end closing procedures for General Ledger in Microsoft Dynamics GP
Changing the posting type on an account after you close the year
Query to clear beginning balances for unit accounts
How to set up an adjusting period
How to use divisional retained earnings accounts
Retained Earnings account not found
General Ledger year end close still in process and batches cannot be posted

42. US Payroll Year End Closing
When should the Payroll Year End Close be done?
After ALL current year pay runs are complete
After making a backup
Before processing pay runs in the new year

43. US Payroll Year End Closing
What does the Payroll Year End Close process do?
Creates the 'Year End Wage' file containing annual wage information used to generate W2’s, W3’s, 1099's, 1094/1095’s and Magnetic Media for the year being closed.

44. US Payroll Year End Closing
What steps should I take to close the year?
Make a Backup.
Follow the steps in KB “Year-End Closing procedures for Microsoft Dynamics GP Payroll”
Year-end Closing procedures for Microsoft Dynamics GP Payroll

45. US Payroll Year End Closing
Key points to remember:
Year End Wage File
Held in UPR10100-UPR10107 tables
Year End Wage Report
Edit & Print W-2s
Create W-2 Electronic File (W200005, W200006)
Prior to processing pay runs in New Year
Install Payroll Tax Update Round 1
Microsoft Dynamics GP >> Maintenance >>
U.S. Payroll Updates >> Check for Payroll Tax Updates
Downloads & Updates >> Tax Updates (manual)

46. US Payroll Year End Closing
Helpful Documents, Numbers, Sites, and Articles:
Downloads & Updates >> Tax Updates
U.S. Year End Update.pdf
W-2 Wage and Tax Statement Data Source.pdf
Tax Forms –
IRS Forms and Publications
Accuwage for Electronic File Verification
KB Article Year-end closing procedures for Microsoft Dynamics GP Payroll
TAX UPDATES:
U.S. Payroll Tax Update for Microsoft Dynamics GP 2016:
U.S. Payroll Tax Update for Microsoft Dynamics GP 2015:
U.S. Payroll Tax Update for Microsoft Dynamics GP2013:
REGULATORY UPDATES:
U.S. Payroll Year End Update for Microsoft Dynamics GP 2016:
U.S. Payroll Year End Update for Microsoft Dynamics GP 2015
U.S. Payroll Year End Update for Microsoft Dynamics GP 2013

47. Canadian Payroll Year End Closing
Payroll Year End Closing Checklist
KB : “Year-end closing procedures for the Canadian Payroll module in Microsoft Dynamics GP”
Downloads & Updates | Tax Updates
Year-end closing procedures for the Canadian Payroll module in Microsoft Dynamics GP
Canadian Payroll Year End and Tax Updates for Microsoft Dynamics GP 2016
Canadian Payroll Year End and Tax Updates for Microsoft Dynamics GP 2015
Canadian Payroll Year End and Tax Updates for Microsoft Dynamics GP 2013

48. Canadian Payroll Year End Closing Documents and Sites
Download PDF file on Year-End Update page in PartnerSource or CustomerSource
Software Developer Number (RL-1) - Downloads & Updates | Tax & Regulatory Updates
Web Access Code:
Download the pdf for the year-end update on the Year end update page in PartnerSource or CustomerSource
RL-1 Number: Needed to submit RL-1 record over the Internet.
Web Access Code: Needed to submit T4 records over the internet, changes every year, not released as of writing.

49. Case Creation Microsoft Dynamics GP Support Case Routing
Assistance with the install of the MSP or EXE
Support Topic Selection: System and Security Setup, Installation, Upgrade and Migrations
Sub-topic Selection: System Installation
Assistance with the database or report/form upgrade in Microsoft Dynamics GP Utilities
Sub-topic Selection: System Upgrade

50. Case Creation Microsoft Dynamics GP Support Case Routing
Assistance with installing the tax table update in Microsoft Dynamics GP
Support Topic Selection: Payroll
Sub-topic Selection: Payroll Tax Update
Assistance with Payroll-specific issues related to the Year End release and procedures
Sub-topic Selection: Year End Procedures

51. Case Creation Microsoft Dynamics GP Support Case Routing INVENTORY
Distribution – Inventory; Inventory - Other
RECEIVABLES
Financial – Receivables Management; Year End Procedures
PAYABLES
Financial – Payables Management; Year End Close
FIXED ASSETS
Financial – Fixed Assets; Year End Procedures
ANALYTICAL ACCOUNTING
Financial – Analytical Accounting; Other
GENERAL LEDGER
Financial – General Ledger; Year End Closing

52. KB Resources – Recap Year-End Closing Procedures:
KB – General Ledger
KB – Inventory
KB – Receivables Management
KB – Payables Management
KB – Fixed Assets
KB – Analytical Accounting
KB – US Payroll
KB – Canadian Payroll
- GL
- IV
- RM
- PM
- FA
- AA
– US Payroll
- CPR

53. Additional Resources
Blog
Year-end update on CustomerSource
Microsoft Dynamics Support and click on ‘Log a Support Incident’
Microsoft Dynamics Community

54. Additional Resources
Microsoft Dynamics GP Directory – This page provides easy access to all useful resource links for GP. Use this page as a one-stop shop to find information:

55. Additional Questions
If you have a technical question, please feel free to contact Dynamics support through a service request:
If you have any other non-technical questions, you can reach out to your Services Account Manager.
Dynamics Partner Advantage Team

56. Thank you!
Dynamics Partner Advantage Team