Trial Balance - Zero Beginning Balance

I am running a GL Trial Balance for January.  However, the beginning
balance for all the accounts (BS and PL) are 0.  Do I have to close
out 2009 before these beginning balances will appear for January
2010?  I am running GP 10.
0
Jason
2/2/2010 3:17:26 AM
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Jason,

Yes.  The GL year end process is what brings the Balance Sheet account 
balances forward to a new year.  P&L Account balances are moved into 
Retained Earnings.

-- 
Victoria Yudin
Dynamics GP MVP
Want to use Crystal Reports with GP?
http://www.flex-solutions.com/gpreports.html
blog: http://www.victoriayudin.com


"Jason" <webberland@gmail.com> wrote in message 
news:d8000f4b-b1e1-4a85-a171-e771bdfffd23@t17g2000prg.googlegroups.com...
>I am running a GL Trial Balance for January.  However, the beginning
> balance for all the accounts (BS and PL) are 0.  Do I have to close
> out 2009 before these beginning balances will appear for January
> 2010?  I am running GP 10. 

0
Victoria
2/2/2010 5:51:14 AM
Yes, you have to do a year-end close for the previous period for GP to reflect opening balances. The IncStat is zeroized and the RetInc calculated and transferred to the RetInc acct. Otherwise only the movements are reported.

> On Tuesday, February 02, 2010 12:51 AM Victoria [MVP] wrote:

> Jason,
> 
> Yes.  The GL year end process is what brings the Balance Sheet account
> balances forward to a new year.  P&L Account balances are moved into
> Retained Earnings.
> 
> --
> Victoria Yudin
> Dynamics GP MVP
> Want to use Crystal Reports with GP?
> http://www.flex-solutions.com/gpreports.html
> blog: http://www.victoriayudin.com


>> On Tuesday, February 02, 2010 1:58 PM Jason wrote:

>> I am running a GL Trial Balance for January.  However, the beginning
>> balance for all the accounts (BS and PL) are 0.  Do I have to close
>> out 2009 before these beginning balances will appear for January
>> 2010?  I am running GP 10.



0
12/16/2011 11:38:14 PM
Reply:

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