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After I performed the year-end closing routine, beginning balances were brought forward for some of my sales and expense accounts. Some of my asset accounts also closed to the retained earnings account.
Why did this problem occur, and what can I do to correct it? The posting type that is specified in the Account Maintenance window for the account determines whether a balance is brought forward for the account or whether the account is closed to the retained earnings account.
Accounts that use the Balance Sheet posting type carry a balance forward. To resolve this problem, use the appropriate method: Restore from a backup, correct the posting type, and then run the Year End Closing routine again.
For more information about how to correct accounts that had an incorrect posting type without restoring to a backup, click the following article number to view the article in the Microsoft Knowledge Base: The year will be reopened as if it was never closed in the first place, so you can change the posting type on the account and then run the Year End Closing routine again.
I tried to run the year-end closing routine by using a divisional retained earnings account, but I received the following error General environment of microsoft company Retained Earnings account not found.
What can I do to resolve the problem that causes this error message? Before the routine can continue, the year-end closing routine must validate that all the required divisional retained earnings accounts exist.
For example, the Fabrikam, Inc. The first segment represents the department. A retained earnings account must exist for each department that has a profit and loss account. For example, if sales account exists, but no nnnn-nn retained earnings account exists, you receive this error message.
For more information about how to close to divisional retained earnings accounts, click the following article numbers to view the articles in the Microsoft Knowledge Base: For more information, visit the following Microsoft Dynamics Web site: What happens to unit accounts during the year-end closing routine?
Unit accounts are treated as balance sheet accounts. Unit accounts have a balance that is brought forward when the year is closed. For more information about how to clear the beginning balances for unit accounts, click the following article number to view the article in the Microsoft Knowledge Base: I am preparing to close the year in General Ledger.
We recommend that client computer users stop working in Microsoft Dynamics GP while the year-end closing routine is processing. If users continue to work in the program, their work may be lost if you have problems with the year-end closing routine and need to restore to the last backup.
I want to allocate the net profit to the retained earnings account or to the capital accounts each month. Also, net profit is supposed to be allocated to three retained earnings accounts or capital accounts. Can I do this? No, you cannot do this.
However, you can specify a non-financial account in the Account Maintenance window. Use a number that is not in your current account numbering scheme. This account acts as a suspense account for the net income or for the net loss.
Every month, you can post an adjusting entry to the three capital accounts that you want to adjust. For the offset account, use the suspense account. When the year-end closing routine is finished, use the suspense account as the retained earnings account.
This offsets all the manual adjustments that you made to the suspense account during the year. Make sure that the suspense account does not appear on reports. If you are using Advanced Financial Analysis for financial statements, when you format the balance sheet, put the NP line as the last line on the Advanced Financial Analysis statement.
Then, put a page break before the NP line. The balance sheet must have an NP line. However, this line makes the net income or the net loss appear two times. Therefore, format the NP line so that it is off the financial statement. You can also use a report type of Other.
Why is the status of some of my financial reports set to Invalid?Effectively migrating from a traditional, on-premises IT environment to a Hybrid IT environment that may include elements of SaaS, IaaS, and PaaS requires a logical set of steps.
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Definition of general environment: The factors and conditions (such as economic, legal, political, and social circumstances) that generally affect everyone in an industry or market in more or less similar manner. Microsoft Azure Stack is an extension of Azure—bringing the agility and innovation of cloud computing to your on-premises environment and enabling the only hybrid cloud that allows you to build and deploy hybrid applications anywhere.