1. SOARING THROUGH Your Year-end close
Bob McAdam
General Manager
@GPUG

2. 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
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
Co-Host of ‘Enterprise Software Podcast’

3. Review year-end checklist
Agenda
Goals
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.

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

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

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

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

8. 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 arrived w/ Dynamics GP 2016

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

10. Time for another backup…

11. 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

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

13. Time for another backup…

14. 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

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

16. Time for another backup…

17. 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 printing is unrelated to closing Payables Management

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

19. Time for another backup…

20. 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

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

22. Time for another backup…

23. Closing subledgers properly
United States Payroll (UPR)
Year-end processing ALWAYS 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

24. 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
Only has to be done once, not on every machine that touches UPR module
New calendar year payroll can now be processed

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

26. Time for another backup…

27. 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.

28. 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

29. Finalizing the year-end close
Ancillary items
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 (really good idea)
Fiscal Periods Setup Maintenance
Setup (Administration Area Page)>Company>Fiscal Periods
Be sure all 2017 module boxes are closed
Create a new calendar for 2018 module postings
Security settings on this window should be very restricted

30. Questions?
Bob McAdam Dynamic Communities, Inc. “Bob’s BloGPipes” periodically at: