Close the general ledger at month end
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Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Use the following information to complete monthly closing procedures for General ledger. All procedures are optional, and you might not be able to complete a procedure, depending on the options that are selected in the Configuration form.
Complete closing tasks for all other modules. For more information, see Close Accounts receivable overview, Close Accounts payable overview, and About inventory close.
Verify that all journal vouchers for the month are posted. For more information, see Post and print a journal or journal lines.
Use the Foreign currency revaluation form to process the currency foreign currency revaluation to generate any unrealized gain or loss amounts due to currency fluctuation. For more information, see Perform a foreign currency revaluation.
Settle transactions for each ledger account with transactions from the same or other ledger accounts in the Ledger settlements form. For more information, see Settle transactions between ledger accounts.
Use the Process allocation request form to process allocation rules. For more information, see Process an allocation request.
Use the Journal form to enter and post any manual period-end adjustments. For more information, see Journal header (form).
Journalize transactions monthly in the Journalize transactions form and view the Ledger journal report to verify the information. For more information, see Journal header (form).
In the legal entity that is set up for consolidation, consolidate and verify the changes in the Consolidations form. For more information, see Consolidate transactions.
Print the Trial balance, Account statement, Financial statement, and required reconciliation reports.
In the Ledger calendar form, select the fiscal year and period to modify, and then select On hold or Closed in the Period status field to prevent users from posting transactions in the closed month. You can reopen a period that is on hold, but you cannot reopen a closed period.
You can also complete the following procedures, and might legally be required to do this.
To calculate the sales tax that is due for a specific period, use the Sales tax payments form. (Click General ledger > Periodic > Sales tax payments > Sales tax payments.)
To print information about trade between European Union (EU) countries/regions, use the Intrastat form. (Click Organization administration > Periodic > Foreign trade > Intrastat.)
To print information about EU sales for value added tax (VAT) declaration purposes, use the EU sales list form. (Click Organization administration > Periodic > Foreign trade > EU sales list.)
Close periods in the general ledger