Get Ready, Get Set, and Go! Closing Your Books on Microsoft Dynamics GP

Abacus on Dusty counter | Get Ready, Get Set, and Go! Closing Your Books on Microsoft Dynamics GP

There are two ways to think about your year-end close. You could think: “Oh, no! Do I really have to do this again?” Or, you could imagine: “I’m just glad that I don’t need to learn how to use an abacus!”

It’s the 21st century, and you don’t need an abacus, an adding machine, or a dusty ledger book. Because the year-end close on Microsoft Dynamics GP is, quite obviously, all accomplished electronically.

Putting my attempt at humor aside, as your Dynamics GP partner, we at Bond Consulting Services (BCS) totally understand that this is a procedure you follow only once a year. So, when December rolls around again, you may need some help or at least a refresher. And we’re here to provide whatever level of assistance you may require or desire.

Get Year-End Help from Bond Consulting Services

Easy. The fastest ways to request year-end close support are to submit a support ticket or just call us at 562-988-3451. At this time of year, especially, we’ve got all hands on deck to help you.

Get Year-End Help from Microsoft

The other alternative is Microsoft support. You may have support instances left on your plan that you can use. But there’s also a Web site that provides comprehensive information:

On that page, you’ll find these two critical requirements:

  1. Be sure to have a current backup of both the company and Dynamics databases.
  2. During the year-end closing routine, all the records that will be moved are put in a temporary table before they are transferred to the GL30000 table. You must have free disk space that is equal to the size of the GL20000 table to perform the routine.

And then you’ll find a checklist that starts like this:

  1. Complete the posting procedures and the closing procedures for other modules.
  2. Post the final adjusting entries in General Ledger.
  3. Print an account list to verify the posting type of each account.
  4. Close the last period of the fiscal year.
  5. Verify the settings in the General Ledger Setup window.
  6. Make a backup.
  7. Print a final Detailed Trial Balance report.
  8. Print the year-end financial statements.
  9. Set up a new fiscal year.
  10. Close the fiscal year.

And goes on to provide much more detail.

And finally, on that same page, you’ll find an extensive Q&A that asks and answers the top 18 most frequently asked questions. It’s a treasure trove of useful information, and the odds are that you’ll find answers to any questions you might have.

Good Night and Good Luck

As I bring you all this great support news, I’m reminded of the famous newscaster Edward R. Murrow, who closed all his broadcasts with those five words: “Good night and Good Luck.” It became his catchphrase. In reality, however, luck has nothing to do with a successful year-end close. It’s just a question of following the step-by-step procedure.

You’re in good hands with either Bond Consulting for Microsoft for support. Here’s our number again, in case you need us: 562-988-3451.

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