Microsoft Dynamics GP: Creating a new fiscal period can be done in just a few easy steps
Follow these 4 easy steps to creating a new fiscal period:
Go to: Microsoft Dynamics GP>>Tools>>Setup>>Company>>Fiscal Periods
Where it says 2019 overwrite with 2020 (or current year)
This should set up your first and last day of 2020
Your Number of Periods should be 12
Hit calculate, and you will get the following screen:
Note: You have the option to rename the periods to Months or close future periods so users will not accidentally post transactions to those periods.
Use the button “close all” periods and open only what you need in 2020. You can uncheck anything you don’t want to be closed.