Micro Force -Velosio Tips & Tricks - Year-End Routines
Updated: Jan 13, 2021
Greetings!
On behalf of our entire Micro Force – Velosio team, we hope that you had a memorable Christmas holiday season. And we would like to wish you a very healthy, happy and prosperous 2021 to you and your families!
As a gift to our valued clients, we are working on identifying emailing you a different Dynamics GP tip or trick throughout the next month. We know that this is typically the busiest month of the year for our friends in finance, so we will not overwhelm you with lots of info to read. On the contrary, we will send you only one Tip or Trick for Dynamics GP in each emailed article. We plan to send you a new Tip or Trick every other day for the next month – once again – as a THANK YOU for permitting us to service your Microsoft Dynamics GP business software system.
We believe that this first Tip is very timely. It is a checklist of the routines that you may need to run in each of your Dynamics GP companies to properly close your calendar year. If you are not using a module in the section noted, such as Inventory, no need to do anything in those modules.
Year-End Routines for Dynamics GP
Close the year for each module in each company
Purchasing
Sales
Inventory
Financials
1099 Routines
Needs 1099 GP update
Update data
Print forms
Other Routines
Purchasing - Remove Completed PO’s, 5 “Removal” options – recommend not to run since it will delete GP data
Sales - Write off, Paid transaction removal
Inventory - Moving specific items to discontinued, 8 “Removal” options (see above)
If you have the Data Archiving module for Dynamics GP that permits you to move data from a certain year going back out of your production company and into an “archived” GP company for future reference, this is the recommended method to remove old data and upgrade your system’s performance.
Utilities to Purge Data in each module
Purchasing
Sales
Inventory
Reconcile Processes for modules
Purchasing
Sales
Inventory
Financials
Printing of year-end reports – to use to reconcile subsidiary modules to the GL account details.
A reminder that if you created a Dynamics GP Checklist when running these routines at the end of 2019, your work should be a lot easier this year. If not, you may want to create the year-end Checklist when you go thru this process this year, for reference in future years.
As is always the case, if you would like to schedule a service to help you with any of these tasks, please email us at support@micro-force.com or call us at 212-777-7029 for assistance.
For more info about your GP system and business software in general, visit our blog site at https://www.micro-force.com/blog
Thank you once again for choosing Micro Force, we truly value our partnership together and the opportunity to serve your business solution needs! Sincerely, Jim McCann Partner, Senior Sales Analyst and Software Consultant Micro Force, A Velosio Affiliate Phone: (631) 421-1030 x 302 / (212) 777-7029 x 302 Email: jmccann@micro-force.com