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Microsoft Dynamics NAV Financial Management by Laura Nicolàs Lorente, Cristina Nicolàs Lorente

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Closing the accounting year

When a fiscal year reaches its end and accountants have finished posting all the needed transactions, it is time to perform the required tasks to close the year.

In Dynamics NAV, this can be accomplished in just a couple of steps: closing the accounting periods and running the Close Income Statement batch process. After that, it is recommended that you restrict allowed posting dates to prevent users from posting any transaction in a closed year. If needed, though, further transactions can be posted.

Closing accounting periods

To close the accounting periods, we perform the following steps:

  1. Navigate to Departments/Financial Management/Periodic Activities/Fiscal Year/Accounting Periods.
  2. Run the Close Year process found on ...

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