Posting to a Closed Fiscal Period
I have been working on collecting some of the most frequently asked questions we receive in support. Here is one of the most popular:
Question:
Can I post a journal entry to General Ledger, after I’ve closed the year?
Answer:
If you close the year, you can still make journal entries to the last closed fiscal year. For this to work, you need to have the option marked to allow “Posting to history” in the General Ledger Setup window (Microsoft Dynamics GP-Tools-Setup-Financial-General Ledger). You also need to have the fiscal period/year open that you want to post to in the Fiscal Period Setup window (Microsoft Dynamics GP-Tools-Setup-Company-Fiscal Periods).
The journal entry will post to the accounts and they will roll forward just like they normally would. The posting journal looks a little different in that it will show two entries but it does everything for you automatically.