Dynamics GP Year-End Reminders and Best Practices

A successful GP Year-End begins with structured planning and a clear understanding of your business requirements. Before initiating any closing procedures, be sure to complete the following preparation steps:

GP Year-End Closing Preparation

1. Proper Planning and Scheduling

Allocate adequate time for your team to complete the GP Year-End tasks.
Communicate timelines internally to all departments using GP data.

2. Evaluate Procedures and Future Needs

Review your current accounting practices, reporting requirements, and module dependencies.
Identify potential improvements for next year while documenting any changes.

3. Backup Your Data (Most Important Step)

Perform a full SQL backup of the company and system databases before closing any module.
Validate the backup to ensure it can be restored if needed.

4. Understand Timing and Date Sensitivity

Some GP modules are highly date-sensitive. Running year-end close at the wrong time can affect reporting for the new fiscal year.
Confirm that all transactions for the closing year have been posted.

5. File Maintenance (Optional but Recommended)

Run database maintenance routines to ensure clean and optimized datasets.

6. Perform Data Cleanup Tasks

Remove unnecessary history when appropriate.
Inactivate or delete outdated accounts, vendors, customers, inventory items, or employee records.
Clean up unused master records to improve performance and reporting.

7. Run Reconcile Procedures

These should be executed in this order:

Sales Order Processing
Purchase Order Processing
Inventory

Reconcile steps help validate and correct any out-of-balance data before the GP Year-End close.

GP Year-End Closing Sequence

Once preparation is complete, follow the Dynamics GP-recommended order for the GP Year-End Closing Sequence:

Sales Order Processing

No specific year-end close process, but ensure all transactions are posted.

Purchase Order Processing

No formal year-end closing routine, but verify all POs and receipts.

Inventory Control

Close the module after completing a physical inventory count and posting adjustments.

Receivables Management

Close the calendar or fiscal year depending on your organization’s setup.

Payables Management

Confirm vendor totals before performing the GP Year-End close.

Fixed Assets

Perform year-end processes after closing Payables.
Verify depreciation and asset records.

General Ledger

Close the fiscal year only after all sub-ledgers have been completed.
Ensure financial statements are final.

Payroll Calendar Year-End

Payroll follows a unique process. Please reach out to our team for guidance and support.

Join Our GP Year-End Webinar and Roundtable Discussion

To help you navigate the process, we invite you to join our GP Year-End Webinar and Roundtable. This session will:

Walk through each step of the GP Year-End close
Highlight common challenges and how to avoid them
Provide best practices from our consulting team
Allow you to ask questions and learn from other GP users

Whether you’re a seasoned GP administrator or supporting the year-end process for the first time, our discussion will help ensure a smooth transition into the new year. Reach out to your CSM to register.