Closing an open year

Our fiscal years are July thru June.  I opened the years 2007, 2008, & 2009

We started a new company on July 1 2007 and I closed the 2008 year.

I failed to close the 2007 year before I closed the 2008 year.  Is there any 
issues with closing the 2007 year now?

0
5/4/2009 2:21:03 PM
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Merle,

1. Which module(s) did you close (Financial, PM/RM)?

2. When you go to Routines > Financial > Year End Closing, what date is 
displayed under Last Closing Date? 

3. When you go to Setup > Company > Fiscal Periods, what year is set to 
default?

4. Did you backup your data before closing out the year?


"Merle Schwickerath" wrote:

> Our fiscal years are July thru June.  I opened the years 2007, 2008, & 2009
> 
> We started a new company on July 1 2007 and I closed the 2008 year.
> 
> I failed to close the 2007 year before I closed the 2008 year.  Is there any 
> issues with closing the 2007 year now?
> 
0
Ross (104)
5/4/2009 2:46:12 PM
1. I had closed Financial, PM & RM
2. 2007
3. 2009 is the year that appears.  The Months of all prior years are closed
4. Backup were performed prior to the closing of 2008 year



"Ross" wrote:

> Merle,
> 
> 1. Which module(s) did you close (Financial, PM/RM)?
> 
> 2. When you go to Routines > Financial > Year End Closing, what date is 
> displayed under Last Closing Date? 
> 
> 3. When you go to Setup > Company > Fiscal Periods, what year is set to 
> default?
> 
> 4. Did you backup your data before closing out the year?
> 
> 
> "Merle Schwickerath" wrote:
> 
> > Our fiscal years are July thru June.  I opened the years 2007, 2008, & 2009
> > 
> > We started a new company on July 1 2007 and I closed the 2008 year.
> > 
> > I failed to close the 2007 year before I closed the 2008 year.  Is there any 
> > issues with closing the 2007 year now?
> > 
0
5/4/2009 2:53:01 PM
Merle

When you go to year end closing routine for GL what year displays to be 
closed? If any year other than 2008 appears you may need to restore your 
data. If 2008 displays and you are ready to close the year, go ahead and give 
it another shot since you have a restore point.

"Merle Schwickerath" wrote:

> 1. I had closed Financial, PM & RM
> 2. 2007
> 3. 2009 is the year that appears.  The Months of all prior years are closed
> 4. Backup were performed prior to the closing of 2008 year
> 
> 
> 
> "Ross" wrote:
> 
> > Merle,
> > 
> > 1. Which module(s) did you close (Financial, PM/RM)?
> > 
> > 2. When you go to Routines > Financial > Year End Closing, what date is 
> > displayed under Last Closing Date? 
> > 
> > 3. When you go to Setup > Company > Fiscal Periods, what year is set to 
> > default?
> > 
> > 4. Did you backup your data before closing out the year?
> > 
> > 
> > "Merle Schwickerath" wrote:
> > 
> > > Our fiscal years are July thru June.  I opened the years 2007, 2008, & 2009
> > > 
> > > We started a new company on July 1 2007 and I closed the 2008 year.
> > > 
> > > I failed to close the 2007 year before I closed the 2008 year.  Is there any 
> > > issues with closing the 2007 year now?
> > > 
0
Ross (104)
5/4/2009 3:07:01 PM
When I go to the year end closing, it currently displays 2007.  Can I just 
close that year - there is no activity in that year, not even beginning 
balances.

"Ross" wrote:

> Merle
> 
> When you go to year end closing routine for GL what year displays to be 
> closed? If any year other than 2008 appears you may need to restore your 
> data. If 2008 displays and you are ready to close the year, go ahead and give 
> it another shot since you have a restore point.
> 
> "Merle Schwickerath" wrote:
> 
> > 1. I had closed Financial, PM & RM
> > 2. 2007
> > 3. 2009 is the year that appears.  The Months of all prior years are closed
> > 4. Backup were performed prior to the closing of 2008 year
> > 
> > 
> > 
> > "Ross" wrote:
> > 
> > > Merle,
> > > 
> > > 1. Which module(s) did you close (Financial, PM/RM)?
> > > 
> > > 2. When you go to Routines > Financial > Year End Closing, what date is 
> > > displayed under Last Closing Date? 
> > > 
> > > 3. When you go to Setup > Company > Fiscal Periods, what year is set to 
> > > default?
> > > 
> > > 4. Did you backup your data before closing out the year?
> > > 
> > > 
> > > "Merle Schwickerath" wrote:
> > > 
> > > > Our fiscal years are July thru June.  I opened the years 2007, 2008, & 2009
> > > > 
> > > > We started a new company on July 1 2007 and I closed the 2008 year.
> > > > 
> > > > I failed to close the 2007 year before I closed the 2008 year.  Is there any 
> > > > issues with closing the 2007 year now?
> > > > 
0
5/4/2009 5:36:03 PM
If there is no activity, I think you would be safer going to
Tools>>Setup>>Company>>Fiscal Periods and marking the year as
historical.  Which you can only do if the year has no activity or
balances.

Take care,
Christina
0
turtlesoup00 (221)
5/6/2009 1:28:22 PM
Merle,

Are  you sure you closed 2008?  If you did, the the Last Closing Date
in Routines>Financial>Year End Closing should be 2008, not 2007.  If
you're sure you closed 2008, I would just leave 2007 alone.  There is
no harm in not closing it although you will want to make sure all the
fiscal periods in that year are closed so no transactions can be
inadvertently posted to it.

Hope this helps,

Frank Hamelly
MCP-GP, MCT, MVP
East Coast Dynamics
www.eastcoast-dynamics.com
blog: www.gp2themax.blogspot.com


0
fhamelly1 (1404)
5/6/2009 3:10:14 PM
Reply:

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