2013-01-03 dynamics gp year end 2012
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Thrive. Grow. Achieve.
Dynamics GP Year End 2012
Troy Minor, Sr. Financial Systems Consultant
January 3rd, 2013
2012 YEAR END CLOSE REVIEW
1099 & REVIEW FAQ
INVENTORY YEAR-END CLOSE
RECEIVABLE YEAR-END CLOSE
PAYABLES YEAR-END CLOSE
FIXED ASSET YEAR-END CLOSE
GENERAL LEDGER YEAR-END CLOSE
FAQ FOR YE CLOSE
PAYROLL W2
MANAGEMENT REPORTER RU3
AGENDA
STEPS FOR 1099
1. POST ALL PAYABLE TRANSACTIONS FOR THE YEAR
2. PERFORM MONTH-END PERIOD CLOSE
3. PERFORM BACK UP (PRE-1099 EDITS)
4. VERIFY 1099 INFORMATION
Tools/routine/purchasing/print 1099 (File/print)
Edit 1099 amount –cards/purchasing/details/period
5. PRINT 1099 STATEMENTS
Tools/routines/purchasing/ Print 1099
3Dynamics GP Year End 2012
REVIEW FAQ FOR 1099
•Refer to your FAQ 1099 document
4Dynamics GP Year End 2012
1099 NEW FEATURES IN GP2010
GREATER CONTROL OVER 1099 BOX
•Vendor maintenance screen
•Payables Transaction Entry screen
•Vendor Summary
•Print 1099 screen
5Dynamics GP Year End 2012
YE CLOSE
•INVENTORY
•RECEIVABLES MANAGEMENT
•PAYABLES MANAGEMENT
•FIXED ASSETS MANAGEMENT
•GENERAL LEDGER
6Dynamics GP Year End 2012
WHAT HAPPENS IN INVENTORY CLOSE
•ZEROS THE QUANTITY SOLD FIELD IN ITEM QUANTITY MAINTENANCE WINDOW FOR EACH SITE
•UPDATES THE AMOUNT IN THE ITEM’S BEGINNING QUANTITY FIELD TO THE QUANTITY ON HAND FIELD AT EACH SITE
•TRANSFER ALL SUMMARIZED CURRENT YEAR QUANTITY (COST AND SALES AMOUNTS) TO TRANSACTION HISTORY FOR THE ITEMS
•UPDATES THE STANDARD COST OF EACH ITEMS TO THE CURRENT COST IF YOU USE EITHER THE FIFO PERIODIC OR THE LIFO PERIODIC VALUATION METHOD
7Dynamics GP Year End 2012
INVENTORY YEAR-END CLOSE
CHECKLIST
1. POST ALL TRANSACTIONS FOR THE YEAR
2. RECONCILE INVENTORY QUANTITIES
3. COMPLETE PHYSICAL INVENTORY COUNT AND
POST ANY ADJUSTMENTS
4. MAKE A BACKUP
5. PERFORM YEAR END CLOSE
(TOOLS/ROUTINE/INVENTORY/YEAR END)
6. MAKE FINAL BACKUP
8Dynamics GP Year End 2012
WHAT HAPPENS IN RECEIVABLE CLOSE?
•CALENDAR YEAR CLOSE
•CLEARS FINANCE CHARGE FOR YTD
•UPDATES FINANCE CHARGE LYR
•FISCAL YEAR CLOSE
•CLEARS THE YTD BALANCES FOR EACH
CUSTOMER
•UPDATES LYR BALANCES FOR EACH CUSTOMER
(CARDS/SALES/SUMMARY)
9Dynamics GP Year End 2012
RECEIVABLES YEAR-END CLOSE
CHECKLIST
1. Post all sales and receivables transactions for the year
2. Perform month-end period close
3. Perform back-up (Pre year-end close)
4. Close the fiscal and calendar year
Make sure your user date is 12/31/xx Tools/routines/sales/ year-end close
5. Perform another back-up (post year-end close)
10Dynamics GP Year End 2012
WHAT HAPPENS IN PAYABLES CLOSE?
•CALENDAR YEAR CLOSE
•CLEARS AMOUNT FOR YTD
•FOR AMOUNT SINCE LAST CLOSE VIEW, UPDATES LYR
•FOR CALENDAR VIEW, UPDATES AMOUNT FOR LYR
•FISCAL YEAR CLOSE
•CLEARS THE YTD BALANCES FOR EACH VENDOR
•UPDATES LYR BALANCES FOR EACH VENDOR FOR
FISCAL YEAR VIEW-(CARDS/PURCHASING/SUMMARY)
11Dynamics GP Year End 2012
PAYABLES YEAR-END CLOSE CHECKLIST
1. Print the aged TB w/ options report
2. Perform back-up (Pre year-end close)
3. Close the fiscal and calendar year
Make sure your user date is 12/31/xx
Tools/routines/purchasing/ year-end close
4. Perform another back-up (post year-end close)
12Dynamics GP Year End 2012
WHAT HAPPENS IN FA CLOSE?
•CURRENT FISCAL YEAR IN EACH CLOSED BOOK
INCREASED BY ONE YEAR
•SYSTEM ZEROS THE FOLLOWING FIELDS
•YTD depreciation
•YTD Maintenance
13Dynamics GP Year End 2012
FIXED ASSET YE CLOSE CHECKLIST
1. ENTER ALL FA TRANSACTIONS
2. DEPRECIATE ALL ASSETS THROUGH THE LAST
DAY OF THE YEAR
3. BUILD FA CALENDAR IF NECESSARY
4. CREATE BACKUP
5. RUN FA YE CLOSE ROUTINE
(TOOLS/ROUTINE/FA/YE)
6. CREATE FINAL BACKUP
14Dynamics GP Year End 2012
WHAT HAPPENS DURING GL YEAR-END
CLOSE?
•TRANSFERS ALL CURRENT YEAR INFORMATION FOR EACH ACCOUNT TO ACCOUNT HISTORY
•RECONCILES AND SUMMARIZES THE GL BALANCES THAT ACCUMULATES THROUGHOUT THE YEAR
•REMOVES ALL ACCOUNTS THAT ARE MARKED AS INACTIVE IF THE ACCOUNTS MATCHES CRITERIA FOR DELETING
•REMOVES ALL P&L ACCOUNT BALANCES TO RE
•SUMMARIZES BALANCE SHEET ACCOUNTS AND BRINGS THE BALANCE FORWARD AS THE BEGINNING BALANCE OF THE ACCOUNT IN THE NEW YEAR
•PRINTS THE YEAR-END CLOSING REPORT
15Dynamics GP Year End 2012
PREPARING FOR GL CLOSE
1. VERIFY DISK SPACE AVAILABILITY (MUST HAVE FREE DISK
SPACE = TO GL20000
2. CLOSE ALL SUB-LEDGER
– Inventory
– Receivables Management
– Payables Management
– Fixed Assets Management
16Dynamics GP Year End 2012
GENERAL LEDGER YEAR-END CLOSE
CHECKLIST
1. Post all outstanding entries in GL
2. Print an account list to verify the posting type of each account (reports/financial/accounts/ all accounts (include inactive accounts)
3. Perform month-end period close
4. Verify setting in the GL setup window
5. Perform pre-close backup
6. Print detailed TB report and Financial Statement (to file) Setup new fiscal year if not already setup
7. Close the fiscal and calendar year
Make sure your user date is 12/31/xx
Tools/routines/financial/ year-end close8. Perform another back-up (post year-end close)
17Dynamics GP Year End 2012
FAQ – YEAR-END CLOSE
REFER TO YOUR YEAR-END CLOSE FAQ DOCUMENT
18Dynamics GP Year End 2012
PAYROLL W2
1. CREATE YE FILE (TOOLS/ROUTINE/PAYROLL/YE CLOSE)
• Information is from employee summary records
• Generate the file as of 12.31.xx date.
• MS recommends generating the YE file prior to payroll run in new calendar year
• Pay runs can be processed in new year before W2 statements are printed
2. REVIEW YE WAGE REPORT AND VERIFY W-2 (TOOLS/ROUTINE/PAYROLL/YE WAGE REPORT)
3. PRINT W2 & W3 FORMS USING THE PRINT W2 WINDOW (TOOLS/ROUTINE/PAYROLL/PRINT W2)
19Dynamics GP Year End 2012
PRINT W2 FORM
PRINT AND REVIEW THE VALIDATION REPORT
PRINT THE W2 FORMS
•Print for both active and inactive employees
•W2 forms are printed for each employee that has
worked during the year
•You can print W2 for any year that a YE wage file exists
PRINT THE W3 FORM
20Dynamics GP Year End 2012
W2 VALIDATION REPORT
•VALIDATES THE FOLLOWING INFORMATION:
•SOCIAL SECURITY NUMBERS
•SOCIAL SECURITY WAGE LIMITS
•SOCIAL SECURITY TAX AMOUNTS
•MEDICARE TAX AMOUNT
•BLANK WAGE FIELDS
21Dynamics GP Year End 2012
ADDITIONAL INFO ON W2
•YOU CAN PROCESS PAYROLL IN NEW YEAR W/O
PRINTING W2
•YOU CAN REPRINT W2 AS MANY TIME AND FOR ANY
YEAR AS LONG AS THE YE FILE EXISTS
•YE FILE CAN BE DELETED AND RECREATED AS
NEEDED.
•YOU SHOULD VERIFY THE INFORMATION ON THE YE
WAGE REPORT BEFORE PROCESSING PAYROLL IN
THE NEW YEAR.
22Dynamics GP Year End 2012
ADDITIONAL INFO ON W2 CONT.
•IF YOU’VE ALREADY PROCESS PAYROLL IN NEW
YEAR AND YOU NEED TO MAKE EDITS TO W2, YOU
CAN EDIT THE SPECIFIC W2 RECORD AND NOT
AFFECT THE MASTER RECORD.
•IF YOU EDIT SS WAGES TO BE HIGHER THAN THE TAX
TABLE LIMIT, THE EDITED W2 INFORMATION WINDOW
WILL DISPLAY THE EDITED AMOUNT BUT W2 WILL
ONLY PRINT UP TO THE LIMIT.
23Dynamics GP Year End 2012
MANAGEMENT REPORTER
•VIEWER VS WEB VIEWER
•Browser
•Comments
•Graphs
24Dynamics GP Year End 2012
Page 25
QUESTIONS?
Troy Minor
Direct: 301-279-6507
E-mail: tminor@raffa.com
Support email
gpsupport@raffa.com
Dynamics GP Year End 2012
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