As the end of the year rapidly approaches, many companies start thinking about doing their ‘year-end closing’ in Dynamics NAV. We know that many companies do not actually perform the year-end close until several months into the year, after an account has reviewed the books and made any necessary adjustments.
Before you pop that bottle of champagne to usher in the new year, there are some things we often forget to do that will make returning to work a little easier after the holidays. Making these changes now will mean much smoother sailing into 2016…at least as far as Microsoft Dynamics NAV is concerned.
Super quick overview of the year-end close process and great for a quick refresher of the steps you need to follow for this once a year routine. Fast, to the point, accurate. Covers closing the year, closing the income statement, what to do with dimensions, posting the journal, and gives some nice examples on using the NAV2013 search feature to find these functions that we do infrequently.
All your journal entries are done, all of your modules balance to the general ledger, and your inventory period is closed. You are ready to get that income statement rolled up and close the year. Now where were those instructions? It’s not unusual to be a little unsure about the year end close process – we only get to do it annually, so no one will blame you if you can’t remember exactly what you did last year, and in what order. Here are a couple of resources to help you out.
It’s that time of the year again. Close out the year! Most companies align their fiscal year to the calendar year so right around this time, we usually get a ton of support calls from people that forgot how to close the year end and need a quick refresher.