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AP posting into new year

  • 1.  AP posting into new year

    SILVER CONTRIBUTOR
    Posted 18 days ago
    I have always been told you can not post an invoice into the next year if the current year has not closed.
    Our AP specialists says they need to post rent due "prepaid expenses" before the end of December but the prepaid invoices will be posting into January 2020 with payment being processed December 2019.

    Is it that you cant process a check run in January 2020 before closing 2019 or you can't post anything into vendor's transactions and process a check run?

    Please clarify the process, thanks.

    Tammy

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    Tammy Bies
    Surgical Management Professionals
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    Conference-GPUG_200x200


  • 2.  RE: AP posting into new year

    GOLD CONTRIBUTOR
    Posted 18 days ago
    Hi Tammy,

    That is correct... posting in a 'future' year can cause the 'Amounts Since Last Close' amounts to be incorrect.

    At any rate, you may still process a computer check (prepayment*) for Dec 2019, then just apply it later in Jan 2020 after the invoice has been posted.

    * Use the Edit Check / Edit Vendor Payment window and enter an Unapplied amount



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    Gerald Buenafe
    Owner/Consultant
    BTP Technologies LLC
    CHANTILLY VA
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    Conference-GPUG_200x200


  • 3.  RE: AP posting into new year

    TOP CONTRIBUTOR
    Posted 18 days ago
    Hi @Tammy Bies
    I wrote a blog on this last year so I thought I'd share to see if it sheds some light for you:
    https://www.advancedintegrators.com/dynamics-gp/dynamics-gp-year-end-closing/
    Thanks
    Windi


    ------------------------------
    Windi Epperson
    Customer Support Manager
    Njevity, Inc
    norman OK
    405-946-1774
    ------------------------------

    Conference-GPUG_200x200


  • 4.  RE: AP posting into new year

    SILVER CONTRIBUTOR
    Posted 18 days ago
    Tammy ~

    You can enter 2020 invoices without closing 2019.  Below is from the Microsoft year-end closing document:

    The following areas of Microsoft Dynamics GP are not date-sensitive:
    • The Amounts Since Last Close view of the Vendor Yearly Summary window
    • SmartList objects
    • Vendor Summary reports
    These areas of Microsoft Dynamics GP will be incorrect if you do not close the payables year after you enter all current year transactions and before you enter any transactions for the new year. However, the Amounts Since Last Close view of the Vendor Yearly Summary window is editable. Therefore, you can update the information in the Amounts Since Last Close view of the Vendor Yearly Summary window if it is required.

    RSM is offering their year-end webinar series again this year as well.  See information below:

    RSM will be offering our annual Microsoft Dynamics GP year-end closing seminar as a three-part webcast series:

    • Core modules: Tuesday, Dec. 10
    • 1099s: Wednesday, Dec. 11
    • Payroll: Thursday, Dec. 12

    These complimentary sessions will focus on year-end processing and each will include a Q&A session. Year-end materials will be available for attendees to download.

     

    One CPE credit will be available per webcast. Please ensure that you log in individually to receive CPE credits.

     

    Register

    Sally

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    Sally Diehl
    Sr. Director, Technology Consulting
    RSM
    612.629.9058
    Minneapolis, MN
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    Conference-GPUG_200x200


  • 5.  RE: AP posting into new year

    SILVER CONTRIBUTOR
    Posted 18 days ago

    I would love the free end of year webcast option.

    Will you send me an invite?

     

    Tammy Bies

    Corporate Staff Accountant

     




    Conference-GPUG_200x200


  • 6.  RE: AP posting into new year

    SILVER CONTRIBUTOR
    Posted 18 days ago
    ​Tammy ~

    The Register link at the bottom of the information should take you to the registration page.  I will forward the invite via email.

    Sally

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    Sally Diehl
    Sr. Director, Technology Consulting
    RSM
    612.629.9058
    Minneapolis, MN
    ------------------------------

    Conference-GPUG_200x200


  • 7.  RE: AP posting into new year

    SILVER CONTRIBUTOR
    Posted 18 days ago

    Do you typically send these to us as I have not received anything in our inboxes for anyone from SMP to register for these webcasts.

    You can send all complimentary webcasts to our email address: smpaccounting@smpsd.com for an invitation to register.

    Will you have one for the 2019 year end upgrade for what will be new or improved or is it just a tax update?

     

    Tammy Bies

    Corporate Staff Accountant

     




    Conference-GPUG_200x200


  • 8.  RE: AP posting into new year

    TOP CONTRIBUTOR
    Posted 18 days ago
    @Tammy Bies
    GPUG also has a year-end closing webinar coming up soon if you'd like to catch it:  https://www.gpug.com/participate/webinars
    ​Thanks
    Windi

    ------------------------------
    Windi Epperson
    Customer Support Manager
    Njevity, Inc
    norman OK
    405-946-1774
    ------------------------------

    Conference-GPUG_200x200


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