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Opening New year

  • 1.  Opening New year

    Posted 20 days ago
    Hi,
    Can someone tell me what I need to do to create a new year in GP?  Also are there special steps I need to take to close AP and AR for 2018?   Thank you!

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    Dana Nichols
    Accounting Supervisor
    Information Control Company
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  • 2.  RE: Opening New year

    SILVER CONTRIBUTOR
    Posted 19 days ago
    Hi Dana,

    go under Administration / Company / Fiscal periods.  This is where to define the fiscal periods for the fiscal years.
    Press F1-Help if you need more info, it is pretty well explained.

    As for closing periods, it is in the same window.  Just open the previous year, for your last period, and check mark the periods to close.

    It is a standard process for closing periods each month, nothing different even if we are the year after.

    Cheers

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    Luc St-Yves
    Business Analyst
    Humanware Technologies
    Drummondville QC
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  • 3.  RE: Opening New year

    Posted 19 days ago
    Thank you!

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    Dana Nichols
    Accounting Supervisor
    Information Control Company
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  • 4.  RE: Opening New year

    TOP CONTRIBUTOR
    Posted 19 days ago
    Hi @Dana Nichols
    If you're talking about the closing process for AP - Purchasing\Utilities\Year End Close - then there are more steps then just toggling the checkbox in the fiscal periods window.  Below are links to Microsoft published articles on closing each of the GP modules that have a close process:

    GL:  http://support.Microsoft.com/kb/888003
    INV:  http://support.Microsoft.com/kb/872713
    AR:  http://support.Microsoft.com/kb/857444
    AP:  http://support.Microsoft.com/kb/875169
    FA:  http://support.Microsoft.com/kb/856563
    AA:  http://support.Microsoft.com/kb/960356
    PR:  http://support.Microsoft.com/kb/850663


    In addition, I wrote a blog about some of theories behind closing AP and AR as well as GL so maybe this will help you as well:
    https://www.advancedintegrators.com/blog&a=view&article_id=7

    Thanks
    Windi



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    Windi Epperson
    President/GP Senior Consultant
    Advanced Integrators, Inc.
    Norman OK
    405-946-1774 ext. 102
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