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Monday, 16 December 2013 09:00

2013 Year End Procedures In Dynamics GP

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As 2013 comes to a close, we are all considering our New Year’s Resolutions to make 2014 the best year ever. This is a great opportunity to consider last minute adjustments for fine-tuning your business. Remember to follow all the recommended year-end procedures so that all associated systems are ready for the challenges of the New Year.

  • Reconcile all your books - Prepare your Balance Sheet, Profit and Loss Statement, Statement of Cash Flows and Statement of Retained Earnings.
  • Complete the posting procedures and the closing procedures for all relevant modules.
  • Post the final adjusting entries in General Ledger.
  • Make a backup.
  • Print any year-end financial statements that are required.
  • Set up a new fiscal year.
  • Close the fiscal year.

Another thing to verify as part of the year-end closing process is the company’s backup procedures. Many organizations have poor or non-existent backup procedures. If there is a hardware failure, the organization may not have a secure offsite copy of its business data to ensure things can pick back up quickly. WebSan provides top cloud security with our Hosted Dynamics GP solution, maintained in our state-of-the-art SAS 70 certified data centre located in Toronto

If you want to learn more about year-end procedures in Microsoft Dynamics GP, join our webinar on Thursday, December 19th, at 11:00 am EST and learn how to successfully close your books.

We help you make it a success every year!

Doriana Kote, Marketing Assistant, WebSan Solutions Inc., a Channel Elite Awards Winner for 2013

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