thread632-701316 - posting in closed year in POP/SOP/INV

[mathews1]

As per thread632-701316, we can enter transactions in sub modules also for closed year. MY question is, if we enter transacitons in POP/SOP module for closed year then would it update vendor summary and customer summary windows for YTD,LTD Figures also or not

-g

 

[VictoriaYudin]

If you've closed the year and post something to it, the current year's YTD total will be updated with the amount of that transaction. Last Year numbers will not be updated. The only way to see the correct data at that point would be to use the yearly inquiry screens, choose either Fiscal Year or Calendar Year and click Calculate - that doesn't use totals stored anywhere, but recalculates every time.

 

[mathews1]

Thankyou very much for your reply. I have another question on GL year end. Now my boss is suggesting do not close year for GL but complete year end process for other modules i.e.INV/POP/SOP. we have implemented INV/SOP/POP in NOV 2004 and never closed.
we have year 2004 and 2005 open for GL but year 2002 and 2003 was closed. My question is: what would it affects if I leave GL Year open for 2004 and 2005 except FRX Reports.

Thanks

-g

 

[VictoriaYudin]

There is no problem leaving as many GL open years as you want in GP. You already know you'll need to address the FRx reports, that's usually the biggest pain. The only other thing is that you won't have correct beginning balances in the GL inquiries, but you are already experiencing that with not having 2004 closed.

Also, there is no close for SOP or POP, only Inventory, Fixed Assets, Receivables and Payables. If you are on GP 7.0 or later, Receivables and Payables are actually optional.

Hope that helps.