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Submitted by Dynamics Insights on 28 June 2012

Closing the Fiscal Year in Dynamics NAV

In this short video demonstration, we how to close a fiscal year in MS Dynamics NAV 2009 Role Tailored Client, create a new year, and close the income statement

You can also view this video tutorial on YouTube by clicking here.


Below is a transcript of the video:

Good morning.

First we need to make sure the accounting periods are closed. We’re going to close the accounting period ending 12/31/11. And you can see the accounting periods are now closed and locked.

This is also a good time to create a new year, if you have not already done so. You can do that by just clicking on Create Year. Click OK. And we’ve now created another accounting period.

Next we will close the Income Statement. The system will default the Fiscal Year Ending Date to the last closed period. You can select the General Journal Template here, and the General Journal Batch. You will also need to enter a Document Number, and select the Retained Earnings account. Click OK.

I’m going to change the Year here in the Posting Description, click OK. Click OK when the Journal Lines have been created, and let’s go look at that batch.

There are our entries and let’s post these.

And you’re through with the closed year process.

If you have adjustments to do later, you can close the year as many times as you’d like.

Thank you!

If you have any questions about this process or other technical questions about Dynamics NAV, please contact ArcherPoint.

Read more "How To" blogs from ArcherPoint for practical advice on using Microsoft Dynamics NAV.

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