Month-End Closing

Ideas, Tips & Tricks


How much of your time and your staff’s time is put aside to do month-end closes, every month. Have you every though about how much this laborious task costs your company in time and money over the course of the year? Many times it’s a combination of using or adding functionality, that you may already own or be entitled to, or that can easily be purchased as an add-on, along with the streamlining of processes that come along with this new functionality, that helps bring down the time and cost of this monthly headache.

Below are some ideas you may not know about, some which are built right into Dynamics GP, some are add-on’s you could purchase, and some are possible procedural changes you may want to consider.

For a more detailed explanation of any of these, or other ideas, feel free to reach out to our professionals at Micro Force – Velosio at, and let us help you make month-end processing headaches a thing of the past.

**If you would like to download a PDF version of the information on this page, please click here.

             Tip #1        Balance the bank account daily for easy month end reconciliation

                                   Consider using Electronic Bank Reconciliation, Nolan Adv. Bank Reconciliation

             Tip #2        Look at changing monthly cutoffs or separating from month end

                                   Commissions: do other than month end (i.e. 10th or 25th)

                                   Royalty reporting – same as above

                                   Customer Statements – send on 10th after close

                                   Customer Invoicing – mid month vs. 1st or end of month

                                   Sales Tax Reporting – process and calculating after close

                                   Payroll – Mid month only or payroll cycle – post payroll expense vs. accruals

             Tip #3        Post Continuously for up to date information

                                   Dynamics GP’s native functionality allows posting transaction to the GL in real time. Yet

                                   many companies still wait until month end to post all their journal entries. Posting

                                   throughout the month allows a company to see the progress and make corrections or

                                   adjustments throughout the month.

             Tip #4        Run Depreciation Earlier, set to Next Month or Mid-Month

             Tip #5        Enter transactions faster, by

                                   Copying journal entries

                                   Using Quick Journals (can’t put in batch or use Batch approval)

                                   Using Clear Recurring Batches

                                   Integrating Journal Entries (separate install)

                                   GL Copy/Paste

             Tip #6        Automate Accruals and Deferrals, with

                                   Recurring batches

                                   Reversing Entries

                                   Revenue/Expense deferrals (separate installation)

                                   Allocation Accounts (fixed / variable)

                                   Correcting Entries

             Tip #7        Use Reconcile to GL Routines for balancing GL to Subledgers

                                   AP Subledger with Reconcile to GL

                                   AR Subledger with Reconcile to GL

                                   Inventory Subledger with Reconcile to GL

                                   Bank Rec Subledger with Reconcile to GL

             Tip #8        Use a Shortcuts folder to quickly access specific windows

             Tip #9        Use Reminders to manage to expectations

             Tip #10      Use 'Mass Close' button at the bottom right of the Fiscal Periods window

                                   You can selectively close individual transaction types for a period without closing the whole

                                   module.  This provides more granular control of period closing.


For more ideas and time and cost saving ideas, let our seasoned and knowledgeable staff help you get the most out of your system. With the resources of the Micro Force – Velosio team, we bring our clients a wealth of experience and expertise that no other Microsoft Partner can match. With offices and affiliates in over 50 cities across North America, and over 300 team members, we can provide unparalleled expertise in a diverse range of industries, unmatched by another other Microsoft partner. Call or email us today at (631) 421-1030 or, and see how Micro Force –Velosio can help your business succeed.


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