Overview of Tasks to Close Accounting Periods

Article
08/10/2018

Dynamics NAV does not force you to close periods, however, there are many period-end (month-end) activities that you can do. This topic provides an overview of optional processes and activities for closing periods.

General Ledger

Specify system-wide and user-specific posting periods.

This specifies the dates between which you allow posting. Depending on your business, you may want to allow posting at the start of the period, or toward the end. For more information, see How to: Specify Posting Periods.
Make all necessary G/L adjustments.
Update and post Recurring Journals.
Run account schedules as follows:
- Open the Account Schedule window, and then choose the Print action.

Sales and Receivables

Post all sales orders, invoices, credit memos, and return orders.
Post all cash receipt journals.
Update and post recurring journals that are related to sales and receivables.
Reconcile accounts receivable to the general ledger.
Run the Delete Invoiced Sales Orders batch job.

Purchases and Payables

Post all purchase orders, invoices, credit memos, and return orders.
Post all payment journals.
Update and post recurring journals that are related to purchases & payables.
Run the Aged Accounts Payable report and reconcile accounts payable to the general ledger.
Run the Delete Invoiced Purchase Orders batch job.

Fixed Assets

Post all maintenance costs have been posted through the fixed asset journals or invoices.
Post adjustments.
Post appreciation.
Post depreciation.
Update and post the recurring fixed asset journal.

Intercompany

Process Intercompany Transactions

Calculate and Process Sales Tax

Complete Tax Statements.

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