Business Central 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. Learn more at Specify Posting Periods.
Make all necessary general ledger (G/L) adjustments.
Update and post recurring journals.
Run financial reports as follows:
Open the Financial Reports page, 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 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 related to purchases and 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 that have been posted through the fixed asset journals or invoices.
Post adjustments.
Post appreciation.
Post depreciation.
Update and post the recurring fixed asset journal.
In this article See also Start a free trial! At the end of a fiscal year, there are a number of administrative tasks you must perform, such as making sure all documents and journals are posted, ensuring currency data are up to date, closing the ...
In this article To close accounting periods See Also When a fiscal year is over, you must close the periods that comprise it. To close accounting periods Choose the icon, enter Accounting Periods, and then choose the related link. On the Accounting ...
In this article Creating a new fiscal year Closing a fiscal year Posting entries to a closed fiscal year See also Accounting periods, also known as reporting periods, are periods of time for which a company or organization reports financial ...
There are a number of standard reports that you can use to gather the information that you need to prepare your company's closing statements. The following table describes a number of reports that may be useful in this process. To See this report ...
In this article To post the year end closing entry See Also After you use the Close Income Statement batch job to generate the year-end closing entry or entries, you must open the journal you specified in the batch job, and then review and post the ...