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Gloria Braunschweig, Computeration

Dynamics GP Quick Tip to Help You Identify Incorrect General Ledger Account Posting Type Prior to Year-end Closing


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The Microsoft Dynamics GP general ledger year end closing checklist includes the point to, “Print an account list to verify the posting type of each account.”  We use two simple SmartList options to make this test fast and easy.

First, you can only use this if you have a clean break in your main account segment between Balance Sheet numbers and Profit and Loss numbers.  Most companies end their balance sheet accounts at no higher than 3999 (or 399, 39999, 399999); their profit-and-loss accounts start at 4000 (or 400, 40000, 400000).  Maybe you break at 2999/3000 or 4999/5000.  The point is that industry standard is not to co-mingle the balance sheet and profit-and-loss accounts.

As long as you don’t co-mingle your main segment, use these two tests in SmartList.

Balance Sheet Account Test

  1. Establish and understand what your break point is.
  2. >> SmartList >> Financial >> Accounts
  3. Start with the * default and set these Search options
    1. Posting Type >> is equal to >> Balance Sheet
    2. Account >> is greater than >> 3999 (insert your highest numbered Balance Sheet main account number)
    3. OK
    4. Save the favorite for re-use next year as “Test Balance Sheet Accounts”

The list that is produced should show

  1. Unit accounts (these are always Balance Sheet Posting Type
  2. Any incorrect general ledger accounts that should be corrected

Profit-and-loss Account Test

  1.  Establish and understand what your break point is.
  2. >> SmartList >> Financial >> Accounts
  3. Start with the * default and set these Search options
    1. Posting Type >> is equal to >> Profit and Loss
    2. Account >> is less than >> 4000 (insert your lowest numbered Profit and Loss main account numbers)
    3. OK
    4. Save the favorite for re-use next year as “Test Profit and Loss Accounts”

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by Computeration

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