Year End Close in Analytical Accounting

Hi all

With the year end round the corner, Frank Hamelly has given a refresher of some of his tips during the YEC process  at http://gp2themax.blogspot.com/2010/11/gptip42day-year-end-close.html. As a follow-up to his article, I have decided to post some tips and points to keep in mind when performing year end close in Dynamics GP with analytical accounting activated.

In order to perform the year end close at the dimension code level, we need to make sure a couple of setups is completed.

In the Analytical Accounting Options window, which opens from Microsoft Dynamics GP >> Tools >> Setup >> Company >> Analytical Accounting >> Options, ensure that the “Include dimensions in the year end close” option is checked as illustrated below.

Once the option explained above has been enabled, make sure the “Consolidate balances during Year End close” option is marked for every transaction dimension that has been created in the system, in the Transaction Dimension window which opens from Cards >> Financial >> Analytical Accounting >> Transaction Dimensions. Make sure you do not miss to mark this option for any transaction dimension, since any transaction dimension which has this option unmarked, does not get involved during the year end process.

Note that if the year end option is not marked in the Analytical Accounting Options window explained above, this option is disabled in the Transaction Dimension Maintenance window, as illustrated below.

Also, if you are on GP v10 with SP4 or prior, make sure you read this article which I have written on a common issue which occurs on Service Pack 4 and prior. This issue was fixed in GP v10 SP5.

Year End Close Issue with AA – Workaround

Hopefully, this helps the community folks who are using analytical accounting…

Until next post…