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GL EOY Close

  • 1.  GL EOY Close

    TOP CONTRIBUTOR
    Posted Jul 29, 2018 10:55 AM
    Recently tried to close the year for a recently acquired company. I'm getting a "retained earnings account is not active", although it is. I've read that that is sometimes an issue when the "Close to divisional account segments" is marked in the GL Setup. It has segment 1 selected.

    It appears that segment 1 has a value of 'B' that is active.

    In this cases does it matter whether the "Close to divisional accounts segments" is checked or not?


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    Jeff Roe
    Kele Inc
    Bartlett TN
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  • 2.  RE: GL EOY Close

    TOP CONTRIBUTOR
    Posted Jul 29, 2018 10:45 PM
    Hi @Jeff Roe

    Can you verify that the account card for the retained earnings account isn't marked inactive?  Let me know what you find out.​

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    Kristen Hosman
    Dynamics ERP Consultant
    Briware Solutions Inc.
    Pine CO
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    Original Message
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  • 3.  RE: GL EOY Close

    Posted Jul 30, 2018 05:03 AM
    Hi Jeff,

    The "Close to divisional accounts segments" is actually pretty important and should only be selected if you have multiple retained earnings accounts and want to have GP close to the multiple accounts instead of one. In that case, you must have a retained earnings account in the GL for each P&L account with activity. So for example, if you have segment 1 selected and you have the following 2 retained earnings accounts:

    A-3300
    B-3300

    but you have P&L accounts with activity in the year with the following structure:

    A-xxxx
    B-xxxx
    C-xxxx

    then you will need to create retained earnings account C-3300 using my example above.

    I was not able to tell from your post whether you are actually closing to multiple retained earnings accounts. If that is not the case, then uncheck that option in the GL Setup. If you're not sure, it's worth taking the time to confirm, this is not easily fixable afterwards short of reversing the year-end close and redoing it (which is only available in the last couple of versions of GP).

    Hope that helps.

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    Victoria Yudin
    Microsoft Dynamics GP MVP 2005-2018
    Flexible Solutions, Inc.
    http://www.GPReportsViewer.com
    http://victoriayudin.com
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    Original Message
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