Closing a year + beginning balances before closing

Hi all,

 

My first time using GP, and our company's first year using GP. Had 2 questions.

 

1. How do I close the fiscal year? I have googled the question, and I found the following guide: http://support.microsoft.com/kb/888003 - would you say that it is a good guideline to use?

2. We are waiting on our tax entries being prepared by a firm - in the mean time, we are trying to perform month end close of the following fiscal year. When I pull the trial balance, the beginning balances are all 0. Anyway that this can be changed to reflect the ending balance of the previous fiscal that has not yet been fully closed?

 

Thanks

  • Hi Jeremy,

    Yes, the year and close guide is a good source to assist with the GP year end close process.

    In re: to your second question, you can use Management Reporter (previously FRx) to mimic the effects of the year end close without actually closing the year in GP. I understand that this doesn't satisfy your need for beginning balances in the trial balance, but I have seen this method use by customers in the past.

    Thanks,

    Nick
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