FRx Balance Sheet Report when your Financial Year is not yet closed in Dynamics GP

FRx Balance Sheet Report when your Financial Year is not yet closed in Dynamics GP

Well, there is popular Dynamics GP ISV product, named Balances Brought Forward, where you do not have to close unlimited number of historical years, and still see such nice features as GL Trial Balance reports with current open year balances. One of them is Balances Brought Forward. Of course, this product gives you some flexibility, for example it enables GL summary and detail trail balances for historical years closing imitation, plus Summary GL Open Year inquiry. This is all great, you may say, but how about FRx Balance Sheet Report (or its successor for newer Dynamics GP version 2010/11.0 Microsoft Management Reporter)? This is where we have to admit, that your question is very important and we have multiple requests to make FRx balance sheet (including its consolidated version) work. FRx traditionally was the tool of choice for Great Plains Dynamics P&L, Balance Sheet, Statement of Cash Flow and most of us, accounting professionals, know that if you do not close the year in Dynamics GP Great Plains, Balance Sheet report in FRx is not functional. Look, we share the concerns and let's see what could be done:

1. Copy Dynamics GP Company into its historical year limited database/company, close the year there and base your FRx BS report on that company. This solution is the most natural, you do not have to incur Great Plains FRx consulting hours to create alternative Balance Sheet report (simply copy FRx BS for your production company, change the company, may need to create company definition and its ODBC in FRx, and if you are not using reporting tree you are pretty much done)

2. What if I would like to see it in the productions company. Well, look, Accounting double entry was invented by Luca Pacioli in 16th Century and all modern accounting, Corporate MRP and ERP applications as based on this mathematical theory. You cannot beat the science, especially when it si mathematics. Technically Microsoft Excel gives you additional control to export all your General Ledger transactions into Excel (Dynamics GP Smart List or Explorer)

3. FRx Consolidated Balance Sheet report. Here you need to be more cautious, as you may need to consider several historical companies DB creation and close through Great Plains Financial Routines. Microsoft Management Reporter (recommended as replacement to FRx) is pretty match symmetrical and deploys similar structures and concepts as FRx Financial Reporting

4. Reopening Closed or Historical Year in Dynamics GP Great Plains. It is not really what we recommend you to do, but you might be locked in the situation, when this is the must to place you back to the business. We have set of SQL Stored procedures, allowing us to reopen your historical year (on the technology surface we are copying historical Year GL transactions from GL30000 tables back to GL Open records GL20000 there are numerous tables associated with this surgery, so we do not recommend you to do self-discovery and SQL scripting)

http://www.articlesbase.com/software-articles/frx-balance-sheet-report-when-your-financial-year-is-not-yet-closed-in-dynamics-gp-3853917.html

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