Close Year Process in Dynamics NAV

Close Year Process in Dynamics NAV

The close year process in Dynamics NAV is pretty straight forward. There are just a few steps:

1.)  Make sure that the accounting periods are closed. To do this, navigate as follows:

Financial Management  >>  Periodic Activities  >>  Fiscal Year  >>  Accounting Periods

Select the period to close and click, “Close”.

You can also create a new year at this point if you want to; and you want to if you haven’t already.

2.)  Close the Income Statement. To do this, navigate as follows:

Financial Management  >>  Periodic Activities  >>  Fiscal Year  >>  Close Income Statement

3.)  Review the resulting journal entry and post. To do this, navigate as follows:

General Ledger  >>  General Journals

You’re done.

If you have adjusting entries, you can enter those and close the year again.

Here’s a video from Deena Edwards at ArcherPoint that shows you how it works:

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