Join Renato Bellu for an in-depth discussion in this video Closing the year, part of Learning Microsoft Dynamics GP (2015).
- The year-end closing process in Dynamics GP,…is often confusing to users.…There's a lot of questions raised about it.…Let's see if we can dispel some…of the mysteries surrounding the year-end close.…The year-end close is most important…in the Financial Module.…A reason for that is it's the way…that the balances are brought forward…and the Retained Earnings is recorded.…You're starting point should be…the General Ledger set up.…What's key here is to understand…what Retained Earnings Account…is used to do the close.…
In the first place you must…select the Retained Earnings Account.…In this case, they've selected Account 3030.…The other thing to note is whether you are…closing to Divisional Retained Earnings Accounts.…Now what this means is that…you're selecting another segment other than…the natural account number, the Main Account Number.…In this case, the Main Account Number is 3030…which means Retained Earnings.…But there's also a Division and a Department.…So if you want your P&L to calculate…a Retained Earnings and map it to separate,…
- Using the SmartList to extract data from Dynamics GP
- Controlling the behavior of the GP by mastering the posting setup window
- Grasping the chart of accounts format
- Entering and posting general ledger journal entries
- Entering accounts payable vouchers and accounts receivable transactions, such as credit memos
- Setting up new inventory items and running stock status reports
- Understanding the ins and outs of the bank reconciliation module
- Creating new companies
- Uploading budgets into Dynamics GP from Microsoft Excel
- Entering sales orders and billing your customers
- Managing inventory price lists
Skill Level Intermediate
Q: Which versions of Dynamics GP does this cover?
A: We cover the latest installed version of Dynamics GP. This course doesn't cover the web-based version of Dynamics GP explicitly, although you may find there are similarities.