To continue processing transactions for the new fiscal year you need to set up your next financial year in Microsoft Dynamics GP. This needs to be done prior to this date, regardless of when you decide to complete your Year End.
To Setup Your Next Financial Year Follow These Steps:
Go to Tools > Setup > Company > Financial Periods. If your New Year is not in the Year drop down box (e.g. 2019) enter that year. Ensure that the number of periods, the first day, and last day are correct for the year and then select Calculate.
Check that the begin date for each of the periods is correct.
Change the Period Name from Period 1 to a more descriptive name (e.g.) July (if required).
Now select the Tax Periods button and do the same for your tax year.
Download Microsoft Dynamics GP Procedures:
GP 2018 and beyond
Download the Dynamics GP year-end documentation for the general ledger and sub-ledger modules to guide you through the year-end process! Make sure you check out our FAQ documents, answering all the common year-end processing questions asked by our customers.
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