To set up an adjusting period in General Ledger in Microsoft Dynamics GP, follow these steps.
Note Historical periods cannot be changed.
1. Take one of the following actions as appropriate: In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Setup, point to Company, and then click Fiscal Periods. In Microsoft Dynamics GP 9.0 and in Microsoft Business Solutions – Great Plains 8.0, point to Setup on the Tools menu, point to Company, and then click Fiscal Periods.
2. Set up each fiscal period. To do this, see the steps in the following example.
Note This example assumes that the fiscal year starts on January 1 and ends on December 31 and that the fiscal year has a 13th adjusting period.
a. In the Year list, click a year. For example, click 2010.
b. In the First Day field, type a first day for the fiscal period. For example, type 01/01/2010.
c. In the Last Day field, type a last day for the fiscal period. For example, type 12/31/2010.
d. In the Number of Periods field, type the number of periods for the fiscal year. For example, type 13.
e. Click Calculate.
f. If it is necessary, adjust the start dates of the periods. In this example, type dates in the Date column beside the corresponding entry in the Period Name column as indicated in the following list:
Period 1: 01/01/2010
Period 2: 02/01/2010
Period 3: 03/01/2010
Period 4: 04/01/2010
Period 5: 05/01/2010
Period 6: 06/01/2010
Period 7: 07/01/2010
Period 8: 08/01/2010
Period 9: 09/01/2010
Period 10: 10/01/2010
Period 11: 11/01/2010
Period 12: 12/01/2010
Period 13: 12/31/2010
3. Click OK.
4. Take one of the following actions as appropriate:
In Microsoft Dynamics GP 10.0, point to Tools on the Microsoft Dynamics GP menu, point to Utilities, point to Financial, and then click Reconcile. In Microsoft Dynamics GP 9.0 and in Microsoft Business Solutions – Great Plains 8.0, point to Utilities on the Tools menu, point to Financial, and then click Reconcile.
5. Click to select the Year check box.
6. Click Reconcile. Microsoft Dynamics GP reconciles the account summary data to the account detail data for all general ledger accounts.