Closing the payroll module at year end does not have to be done in a certain order with the other modules in Microsoft Dynamics GP. More importantly it has to be done before your run your first payroll for the next year. Example if you are closing 2009, you must close 2009 payroll before running your first 2010 payrun.
The order of closing all other modules in Dynamics GP is important. The modules need to be closed in the folllowing order: Inventory, Receivables, Payables, Fixed Assets and General Ledger.
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.