Account Maintenance Options

Today’s #TipTuesday is a “back to the basics” tip. I wanted to cover off a few areas in G/L Account Maintenance that are often overlooked or that users are unaware of.

The first one, Allow Account Entry, is a favourite of mine because too often I’ve seen organizations with reconciliation issues that were caused by “rogue” journal entries posted directly to accounts that shouldn’t ever be posted directly to.

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Reverse Fiscal Year End Close

This #TipTuesday discusses the feature introduced in GP 2013 R2, the ability to reverse a Fiscal year-end close (i.e. re-open a closed fiscal year).

Generally speaking, there should be very few reasons why this is necessary in the first place, as you have the ability to post to the previous (most recent) closed year already, which I hope most people are aware of. However, there are a couple of situations where I can see this occurring:

  • Some event requiring restatement of a year prior to the most recent closed year. Other than adjusting opening retained earnings, you could re-open the year to post exactly where you want this entry done and then re-close.
  • Fixing issues where GL accounts were set up with the wrong posting type!

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Combine Budgets

This is my fourth post in the Did You Know series, tying into Pam’s series on Inside Dynamics GP. Today’s topic is the ability to combine budgets into a master budget. This is very useful for situations where it’s easier to manage smaller budget upload files, perhaps by department or cost centre, and after you’ve imported them into Dynamics GP, then you combine into one big budget for reporting in FRx, Management Reporter or your financial reporting tool of choice.
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Why does the JE description say “Receivings Transaction Entry”?

This question came up in a forum recently – not in this exact form – but essentially the question was “where can you change the description of a transaction from a Dynamics GP Receivings Shipment or Shipment/Invoice”?

The short answer is, it’s very well hidden but it is there, and most users don’t see it and generally it stays at the default value which is “Receivings Transaction Entry”.  That means if you print transaction descriptions on a Accounts Payable cheque or EFT remittance, that’s what you see.

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