GP Year End Resource Center

This page is dedicated to providing the information necessary to close Microsoft Dynamics GP. Every year we receive numerous questions about year-end closing in Microsoft Dynamics GP. The following year-end close resources have been compiled over the years by the Dynamics University partners. Please don’t hesitate to contact any of our Microsoft Dynamics GP partners for additional help or information.

Microsoft publishes (and updates yearly) articles that provide the necessary details on how the year-end close should be done. It is important to remember the proper order to close modules in Microsoft Dynamics GP. The icons below include links to more detailed information for that particular module, some including a short demo of the close process.

For more questions about GP year end, please join our “Microsoft Dynamics GP Year End Close – What You Need To Know” webinars held on Nov 29, Dec 6, and Dec 13.

What You Should Know

WHEN TO CLOSE AND THE ORDER FOR CLOSING MODULES

A common question asked by many! Payroll year-end procedures are independent from the other modules and are always performed at the end of the calendar year.

Some modules such as Inventory and Fixed Assets should be closed at the end of the fiscal year BEFORE posting transactions in the next fiscal year. When these modules are closed, the dates the transactions were completed are not used in determining if they are part of the close, rather the closing processing will include anything that is posted since the last close was completed.

With regards to the Receivables and Payables modules, you may see inaccuracy in certain fields in summary reports, SmartLists and information in summary windows if these modules are not closed prior to posting transactions in the next year. Therefore it is recommended to process the fiscal and/or calendar year-end close prior to posting transactions for the next year.

**Note – There are scripts that can be run to correct some of the reporting information in the Receivables and Payables modules. Please contact your Partner to discuss scripts that may be used to display this data correctly.

Also keep in mind, there is no year-end close process for Sales Order Processing or Purchase Order Processing, rather the close is for the Receivables and Purchasing module.

There is a specific order that Microsoft recommends when performing the year-end close. The modules should be closed in the following order according to fiscal/calendar year:

Payroll – Calendar (independent and always done at the end of a calendar year)

(1) Inventory – Fiscal

(2) Receivables – Fiscal/Calendar

(3) Payables – Fiscal/Calendar

(4) Fixed Assets – Fiscal

(5) Analytical Accounting – Fiscal

(6) General Ledger Fiscal

**Analytical Accounting is part of the General Ledger close process. The steps for closing Analytical Accounting are outlined in the documentation for the General Ledger module.



UPDATE TIPS

Please reference the icons below, for detailed instructions and assistance for closing each module and applying the Year-End update. Here are some general tips and guidelines with regards to doing any update.

Pre Update:

Backup the DYNAMICS database and all company databases before applying any update. This is a SQL Server backup.
Export all modified reports and forms to a package file. If the modified forms and reports are shared, this only has to be done once. If these files are local to each computer, multiple exports will need to be done. Refer to the Dynamics.set file for the path of these files.
Microsoft Dynamics GP > Tools > Customize > Customization Maintenance
Highlight all files, click Export. Name the file and save it to the computer or network share.
The user running the update must have local administrative rights to that computer.
Verify the Microsoft Dynamics GP installation used to upgrade the databases includes all additional product installations. If there are third-party products installed, validate if there is a service pack needed for those products as well.
Verify that all products being upgraded existing on both the server and the client workstations.
Updates in the form of MSP files can be pushed out to client workstations using the Automatic Client update.
General Update Information:

All modified forms and reports (Forms.dic and Reports.dic) must be updated.
If these dictionaries are on a shared network, this only needs to be done once. If there are multiple (local) dictionaries, each dictionary needs to be updated.
The update installation has two components.
When you click on the update, it first updates the application
Next, GP Utilities is run to update all company and Microsoft Dynamics GP databases.
Apply the update to each computer (server and client install) that runs Microsoft Dynamics GP one computer at a time. Wait for the first to finish before doing the next computer.

Test Company:
If you need to do testing on any year end close processes, it is always best to create a test company with a copy of your live data. Below is a link on how to create a test company. Creating a test company has many steps so if you need assistance, please contact your partner.

CREATING A TEST COMPANY IN MICROSOFT DYNAMICS GP

YEAR-END CHANGES

Microsoft will be releasing the U.S. 2015 Year-End updates for Microsoft Dynamics GP 2013 and Microsoft Dynamics GP 2015 soon. This update includes previously released Microsoft Dynamics GP service packs, hot fixes, compliance updates and module fixes as needed.

Do I need to install the Year End Update?

Required
Microsoft recommends installing the Year End Update. The Year End Update is required when you are on Microsoft Dynamics GP 2013 or Microsoft Dynamics GP 2015 and you have one of the following:

1. No W-2 or W-3 form changes
2. No EFW2 changes (Electronic Filing, now due 1/31)
3. Product Quality Fixes around Payroll Year-End
4. Affordable Care Act Updates
5. 1099-Int (Form change to Box 12)
6. Payables 1096 form change
7. Fixed Asset Luxury Auto Depreciation Changes

The update will also include product quality fixes around the payroll year-end.

If your company requires Affordable Care Act (ACA), this will be available through the Human Resource (HR) module, which is FREE on GP 2013 R2. If this is something that is needed, please contact your Partner to request setup information and/or assistance. Tracking ACA information will NOT be available in any build prior to Microsoft Dynamics GP 2013 R2.

What is the Year End Update and where can I download it from?
This update is all-inclusive of prior updates for Microsoft Dynamics GP 2013 and Microsoft Dynamics GP 2015.

MICROSOFT DYNAMICS GP 2013 DOWNLOAD HERE

MICROSOFT DYNAMICS GP 2015 DOWNLOAD HERE

MICROSOFT DYNAMICS GP 2016 DOWNLOAD HERE

 

Year End Specific Module Info