It’s time for your annual Year End closing process. Here are five tips for a successful and smooth procedure:

Top 5 Tips for the Year-End Closing Routines in Dynamics GP

1. Verify that the Version Information for your Server install and for each Client (Workstation) install of Dynamics GP are the same.
2. Confirm that all the Accounts listed in your Chart of Accounts have the correct ‘Posting Type’ selected (i.e. Profit & Loss & Balance Sheet).
3. Before performing the Dynamics GP Year-End Closing Procedures, read documentation for each Module you have implemented to determine the order in which to close them.
4. Download Year-End Update File to install during process.
5. Backup, Backup, Backup! Create at least two (2) backup files throughout the closing process for each Module: one for your System (Dynamics) and another for your Company databases.

Don’t forget you can brush up on best practices by reviewing our pre-recorded Year End Close presentations at http://www.lbmctech.com/year-end.html

By Adam Fahey, Consultant, LBMC Technologies