Tech Tip: Posting to Previous Years

Thoughtware Article Published: Jan 30, 2014
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Did you know you don’t have to keep the prior year open until all of your audit adjustments have been recorded? Microsoft Dynamics GP allows you to post to the most recent historical year. So, for example, when you close 2013, you will still be able to post entries to it—although you will lose the ability to post entries to 2012.

Three important things to consider when posting to the most recent historical year:

  1. Always confirm that you are tracking transaction history and that “allow posting to history” is marked in your General Ledger Setup window.
  2. The period you are posting to must be open/unmarked in Fiscal Period Setup to allow posting.
  3. When posting to a historical period, the entry will appear to “double-up” on posting journals. This is because GP will show the posting of the entry as recorded, and then the posting journals also will show what was adjusted at year-end, e.g., retained earnings, due to the posting. The good news is that GP takes care of the year-end effects automatically!

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