Now that I'm back as a consultant, I've started working on my Microsoft Certified Business Management Professional certification for GP. As a customer, I didn't see any reason to keep up my certifications but I'll need them as a consultant. It's too bad that they've retired the Certified Master designation. That title was more fun!
In the process of working on that I came across a little tidbit for those of you who need an adjustment period at the end of your fiscal year. The typical advice has been to leave a one day long, 13th period for end of the year or post audit adjustments. That's still valid of course.
However, the GP training documentation shows another option. You can have two fiscal periods with the same start date. GP places transactions in the first open period. This means that Fiscal December and the adjustment period can have the same dates. As long as Fiscal December is open, transactions go there. Once it's closed, transactions roll into the Adjustment period. This would let you post ordinary entries up to the last day of the year instead of losing that last day.
I'm not sure this will blow anyone's mind but I thought it was cool to see that there is another option.
Update: In the comments, Andy Hall has mentioned that using a 1 day period causes Expense/Deferral issues and overlapping 12th periods cause FRx issues. Japheth also reported having issues with an overlapping 12th period. Well, I didn't say it was perfect ;).
But that's part of the point of this blog. Now you know that you have other options beyond just a 1 day period and you know that there may be issues. So if you need this, you know it's there and you know what to look out for. Frankly, as both a customer and a consultant that's all I ever really asked for!
You, Me and Dynamics GP
The premier information site for Microsoft Dynamics GP
