Category Archives: General Ledger

MS Dynamics GP how to re-create fiscal periods in GP.

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We don’t see this one to often.  You go into Tools – Setup – Company – Fiscal Periods, input the year, first date and last date of the year, hit calculate; nothing happens.  You can’t key in the beginning dates of your fiscal year.

The period setup files for the company are damaged; SY40100 and SY40101.

You must follow these steps precisely.  Make sure you do a backup of your company database in SQL.  Do not skip printing the report as you will need it later.

From the MS techknowledge 871789:

This article describes how to re-create fiscal periods in Microsoft Dynamics GP. You may have to re-create fiscal periods because a table is damaged or because you are prompted in an error message.

Note Before you follow the instructions, make sure that you maintain transaction history and that you have maintained transaction history in the past. If you have not maintained transaction history and you run a reconcile, the summary information may be lost. During a reconcile, the summary information is reconciled to the detail transaction information. If there is no detail for the summary with which to reconcile and you continue with the reconcile, any summary information that you had will be lost. The only way to restore information is from a backup. We recommend that you have a valid backup before you re-create fiscal periods or before you continue with the reconcile.

Note When you re-create fiscal periods, the period description is reset. For example, if you enter period descriptions, such as period 1 for January, these descriptions are reset.

MORE INFORMATION

To re-create fiscal periods, follow these steps.

Note You cannot change fiscal periods if they are historical.

1. Print the fiscal periods. To do this, follow these steps:

a. Click Reports, point to Company, and then click Setup.
b. In the Reports list, click Fiscal Periods.
c. Click the fiscal reports in the Options list, and then click Insert.
d. Click the fiscal reports in the Print List list, and then click Print. Note the years that are marked as history.
2. Run the following statement against the company database. 

delete SY40100
delete SY40101
3. Follow the appropriate step:

• In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Company, and then click Fiscal Periods.
• In Microsoft Dynamics GP 9.0 and in earlier versions, point to Setup on the Tools menu, point to Company, and then click Fiscal Periods.
4. Set up each fiscal period to match the fiscal periods in the report that you printed in step 1. To do this, follow these steps:

a. In the Year list, click a year.
b. In the First Day field, type a first day for the fiscal period.
c. In the Last Day field, type a last day for the fiscal period.
d. In the Number of Periods field, type the number of periods for the fiscal year.
e. Make sure that you click to select the Historical Year check box if it was a historical year in the report that you printed in step 1.
f. Click Calculate.
g. Repeat step 4a through step 4f for each year in the report.
5. After you set up all the fiscal periods, click OK.
6. Follow the appropriate step:

• In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Utilities, point to Financial, and then click Reconcile.
• In Microsoft Dynamics GP 9.0 and in earlier versions, point to Utilities on the Tools menu, point to Financial, and then click Reconcile.
7. Click to select the Year check box.
8. If you have historical years in the fiscal periods, click History. Start with the oldest history year first. For example, if the historical years are 2004, 2005, and 2006, start with 2004. If you have no historical years, start with the oldest open year.
9. Click Reconcile. Microsoft Dynamics GP now processes all general ledger accounts and reconciles the account summary information to the account detail.
10. Repeat step 6 through step 9 until you have processed all historical years and open years in the correct order.

MS Dynamics GP retained earnings has the incorrect balance after closing the year – gl account has wrong posting type.

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The general ledger year end close procedure was run and an account had an incorrect posting type.  A Profit and Loss account was set as a Balance Sheet account or a Balance Sheet account was set as a P&L account.

I have taken this from the MS techknowlege on the subject.  It is very complete and I can’t improve on the process.

SYMPTOMS

The posting type determines how the account balance will be treated during the year-end closing process in General Ledger in Microsoft Dynamics GP. Balance sheet accounts will be rolled forward to the next year, and Profit and Loss accounts will be rolled into the Retained Earnings account.

CAUSE

This problem occurs if you select the incorrect posting type for the account in the Account Maintenance window when you set up the General Ledger accounts in Microsoft Dynamics GP, There are two options for Posting Type: Balance Sheet or Profit and Loss.

RESOLUTION

Use one of the following methods to correct the posting type for the next year. If the account is supposed to be a profit-and-loss account, use Method 1. If the account is supposed to be a balance sheet-account, use Method 2.

Note Before you follow the instructions in this article, make sure that you have a complete backup copy of the database that you can restore if a problem occurs.

Method 1: The account is supposed to be a profit-and-loss account

As a balance-sheet account, this account will have a beginning balance after the year-end closing process is completed. To change the account to a profit-and-loss account and to reverse the beginning balance, follow these steps:

1. On the Cards menu, point to Financial, and then click Account. In the Account Maintenance window, type the account number in the Account field. Make sure that the Posting Type area is set to Balance Sheet, and then click Save.
2. Use one of the following methods, depending on whether you are registered for multicurrency or not registered:

• If you are registered for Multicurrency Management in Microsoft Dynamics GP, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 10.0 or in Microsoft Dynamics GP 2010, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click Multicurrency.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click Multicurrency.
b. In the Maintain History area, click to clear the General Ledger Account check box.
• If you are not registered for Multicurrency Management, follow these steps:

a. Use one of the following methods to open SQL Server:

• If you are using Microsoft SQL Server 2000, click Start, point to All Programs, point to Microsoft SQL Server, and then click Query Analyzer.
• If you are using Microsoft SQL Server 2005, click Start, point to All Programs, point to Microsoft SQL Server 2005, and then click SQL Server Management Studio.
• If you are using Microsoft SQL Server 2008, click Start, point to All Programs, point to Microsoft SQL Server 2008, and then click SQL Server Management Studio.
b. Run the following statement against the company database. 

UPDATE MC40000 SET MNSUMHST = 0
3. Change the Maintain History settings in the General Ledger Setup window. To do this, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click General Ledger.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click General Ledger.
b. In the Maintain History area, click to clear the Accounts check box and the Transactions check box.
4. In the Allow area, click to select the Posting to History check box. Click OK.
5. Verify fiscal period settings. To do this, follow these steps.

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Company, and then click Fiscal Periods.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Company, and then click Fiscal Periods.
b. In the Fiscal Periods Setup window, make sure that the fiscal period for the recently closed year is open.
6. Enter a journal entry to offset the incorrect beginning balance. To do this, follow these steps:

a. On the Transactions menu, point to Financial, and then click General.
b. In the Transaction Entry window, enter a transaction that reverses the incorrect beginning balance of the profit-and-loss account.
c. In the Transaction Date field, enter a date that is in the closed fiscal year.

For example, if the profit-and-loss account has an incorrect debit beginning balance of $100.00, create a transaction that credits the profit-and-loss account for $100.00, and then debit the retained earnings account for $100.00.
d. Click Post.

Note The transaction updates only the current year because the Maintain History settings are not enabled.
7. Change the Maintain History settings in the General Ledger Setup window. To do this, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click General Ledger.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click General Ledger.
b. In the Maintain History area, click to select the Accounts check box and the Transactions check box.
c. To post the transactions to the transaction history, click to select the Posting to History check box under Allow. If you do not want to post the transactions to the transaction history, click to clear this check box. Then, click OK.
8. Use one of the following methods, depending on whether you are using multicurrency or not:

• If you are registered for Multicurrency Management, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, on the Microsoft Dynamics GP menu, point to Tools, point to Setup, point to Financial, and then click Multicurrency.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click Multicurrency.
b. In the Maintain History area, click to select the General Ledger Account check box.
• If you are not registered for Multicurrency Management, follow these steps:

a. Use one of the following methods to open SQL Server:

• If you are using Microsoft SQL Server 2000, click Start, point to All Programs, point to Microsoft SQL Server, and then click Query Analyzer.
• If you are using Microsoft SQL Server 2005, click Start, point to All Programs, point to Microsoft SQL Server 2005, and then click SQL Server Management Studio.
• If you are using Microsoft SQL Server 2008, click Start, point to All Programs, point to Microsoft SQL Server 2008, and then click SQL Server Management Studio.
b. Run the following statement against the company database. 

UPDATE MC40000 SET MNSUMHST = 1
9. On the Cards menu, point to Financial, and then click Account. In the Account Maintenance window, type the account number in the Account field. In the Posting Type area, click Profit and Loss, and then click Save.

Method 2: The account is supposed to be a balance-sheet account

As a profit-and-loss account, this account will not have a beginning balance after the year-end closing process is completed. To change the account to a balance-sheet account and to create the beginning balance, follow these steps:

1. On the Cards menu, point to Financial, and then click Account. In the Account Maintenance window, type the account number in the Account field. In the Posting Type area, click Balance Sheet, and then click Save. Select Balance Sheet so that the correcting entry that you make in step 6 later in this section will correctly update the beginning balance for the current year.
2. Use one of the following methods, depending on whether you are using multicurrency or not:

• If you are registered for Multicurrency Management in Microsoft Dynamics GP, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click Multicurrency.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click Multicurrency.
b. In the Maintain History area, click to clear the General Ledger Account check box.
• If you are not registered for Multicurrency Management, follow these steps:

a. Use one of the following methods to open Microsoft SQL Server:

• If you are using Microsoft SQL Server 2000, click Start, point to All Programs, point to Microsoft SQL Server, and then click Query Analyzer.
• If you are using Microsoft SQL Server 2005, click Start, point to All Programs, point to Microsoft SQL Server 2005, and then click SQL Server Management Studio.
• If you are using Microsoft SQL Server 2008, click Start, point to All Programs, point to Microsoft SQL Server 2008, and then click SQL Server Management Studio.
b. Run the following statement against the company database. 

UPDATE MC40000 SET MNSUMHST = 0
3. Change the Maintain History settings in the General Ledger Setup window. To do this, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click General Ledger.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click General Ledger.
b. In the Maintain History area, click to clear the Accounts check box and the Transactions check box.
4. In the Allow area, click to select the Posting to History check box, and then click OK.
5. Verify fiscal period settings. To do this, follow these steps.

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Company, and then click Fiscal Periods.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Company, and then click Fiscal Periods.
b. In the Fiscal Periods Setup window, make sure that the fiscal period for the recently closed year is open.
6. Enter a journal entry to create a beginning balance for the account. To do this, follow these steps:

a. On the Transactions menu, point to Financial, and then click General.
b. In the Transaction Entry window, enter a transaction that creates the correct beginning balance of the balance sheet account.
c. In the Transaction Date field, enter a date that is in the closed fiscal year.

For example, if the balance sheet account should have a debit beginning balance of $100.00, create a transaction that credits the retained earnings account for $100.00 and that debits the balance sheet account for $100.00.
d. Click Post.

Note The transaction updates only the current year because the Maintain History settings are not enabled.
7. Change the Maintain History settings in the General Ledger Setup window. To do this, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click General Ledger.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click General Ledger.
b. In the Maintain History area, click to select the Accounts check box and the Transactions check box.
c. To post the transactions to the transaction history, click to select the Posting to History check box under Allow. If you do not want to post the transactions to the transaction history, click to clear this check box. Then, click OK.
8. Use one of the following methods, depending on whether you are using multicurrency or you are not:

• If you are registered for Multicurrency Management, follow these steps:

a. Follow one of these steps:

• In Microsoft Dynamics GP 2010 or in Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Financial, and then click Multicurrency.
• In Microsoft Dynamics GP 9.0 or in an earlier version, point to Setup on the Tools menu, point to Financial, and then click 1.
b. In the Maintain History area, click to select the General Ledger Account check box.
• If you are not registered for Multicurrency Management, follow these steps:

a. Use one of the following methods to open Microsoft SQL Server:

• If you are using Microsoft SQL Server 2000, click Start, point to All Programs, point to Microsoft SQL Server, and then click Query Analyzer.
• If you are using Microsoft SQL Server 2005, click Start, point to All Programs, point to Microsoft SQL Server 2005, and then click SQL Server Management Studio.
• If you are using Microsoft SQL Server 2008, click Start, point to All Programs, point to Microsoft SQL Server 2008, and then click SQL Server Management Studio.
b. Run the following statement against the company database. 

UPDATE MC40000 SET MNSUMHST = 1