Dynamics F/SCM Customer Experience (CRM) Dynamics GP Dynamics Business Central (NAV) Dynamics SL Power Platform Fabric Copilot

[Robert Meade]

Hi all – I noticed when I close the GL year, the BBF (Balance brought forward) comes across 2 different ways on individual Balance Sheet accounts.

Example: Account 123-4567 has a 12/31 balance dr $1000 & cr $400
1. Sometimes, the B/S account will bring over the net 12/31 balance, and make a single entry at the start of the new year.
ie. Beginning balance = $600 dr / $0 cr / $600 Net change & Period balance

2. Other times, B/S account will bring over both the 12/31 debit total, 12/31 credit total at the start of the new year.
ie. Beginning Balance = $1000 dr / $400 cr / $600 Net change & period balance

Obviously, the net change & period balance is fine in both cases, but in case 1, the new year debits and credits can get huge over a few years, and it becomes  a meaningless number.

Does anyone know how I can bring over just the NET 12/31 balance on each account when closing the year?  I would love to make sure all my B/S accounts bring over just the net balance on each account.

If that is not possible, does anyone know why some P/L accounts use method 1, while others use method 2, even in the same company? I can find no rhyme or reason in my COA activity, and I could not find anything in the KBs or documentation. I assume if I make prior year postings it would affect the new year debit and credit beginning balance, but this is happening on my actual year end close.

——————————
Robert Meade
IT Manager
Grace Communion International
Glendora CA
——————————

[Gerald Buenafe]

Hi Robert,
One possibility that you have these entries, is that after you have done your year end processing, new entries have been posted in the previous closed year. Can you check if that is the case? You can verify it by the journal entry number is used is different.

——————————
Gerald Buenafe
Consultant
BTP Technologies LLC
CHANTILLY VA
——————————
——————————————-

[Robert Meade]

Hi Gerald – 
That is a good thought, but I’m getting these weird beginning balance issues immediately after doing the close. It was after hours, so I know no one else was making entries that could have thrown it off (that, and I had not opened December of the prior year for entry!).

——————————
Robert Meade
IT Manager
Grace Communion International
Glendora CA
——————————
——————————————-

[Maureen Martin]

Robert,
You may want to check the Balances Brought Forward (BBF) items to see if there is a difference in the “Currency ID” field. 

Even if you’re not using the Multi-Currency function of GP, some of the BBFs may have defaulted to ”  ” (no value) in the Currency ID field and other BBF entries defaulted to “Z=US$”.

Let us know, and if that’s the case, maybe we can narrow down what’s needed to fix the situation.

Maureen

——————————
Maureen Martin
Finance Manager
Home Repair Services
Grand Rapids MI
——————————
——————————————-

[Robert Meade]

Thanks Maureen – 
I’m not sure where I can find the currency setting you are talking about, but I did a join between GL00100 & MC00200 and all the currency ID’s in MC00200 were blank.

You are correct that we do not use multi-currency.

——————————
Robert Meade
IT Manager
Grace Communion International
Glendora CA
——————————
——————————————-

[Leslie Vail]

Hi,
If you want to clean it up, you can run the Financial Routine to Consolidate Period Balances. Choose period 0, that’s the beginning balance.
When you notice the multi-transactional beginning balances, what is the TRXSORCE of those entries? Do they start off ‘GLTRX’?
Kind regards,
Leslie

——————————
Leslie Vail
Accounting Systems Consulting, Inc.
Dallas TX
——————————
——————————————-