Accounting Period Monthly Close

Dr_mjh

Hi all,

Could anyone please tell me how to close an accounting period (month) monthly? I could not find anything to close a month in spite that I can close the whole fiscal year. Can I conclude that Dynamics-NAV does not support closing month as an accounting period?

Best Regards

David_Cox

The periods close when you close the year, the way to restrict posting into prior periods, is to use the "allow posting from" and "allow posting to" in the General Ledger Setup, you can overide this on a user by user basis, in the Administration and User Setup, here you can set the dates as well.

David

muksha

Yes Navision doesn't support the monthly closing but you can ristrict the entries even on the daily basis by the administrator as guided by David.

David_Singleton

Dr mjh wrote:

Hi all,

Could anyone please tell me how to close an accounting period (month) monthly? I could not find anything to close a month in spite that I can close the whole fiscal year. Can I conclude that Dynamics-NAV does not support closing month as an accounting period?

Best Regards

Its important to understand the Navision concept of closing. Generally in ERP systems, and accounting systems, we think of Closing a period as three things.

1/ Locking of that period, so that no more changes can be made.
In Navision (as mentioned above), this is handled by posting dates. So that entries can not be posted into "closed" periods, though users with the correct permission, (say the Finance Director) can make postings into that period for adjustments.

2/ Moving of consolidated data into a "Bucket" representing that period.
In Navision this is not necessary because o how the SIFT principle works.

3/ And end of year closing to move P/L to the Balance Sheet.
This is covered by the end of year closing routine.

All this means that a traditional month closing does not exist in Navision.

I have for clients on a few occasions implemented a monthly closing system for each Journal type, where it is possible to individually close (say) sales independently of purchase, which allows sales to close off at the end of the month, but give say 2 weeks to get all purchase invoices in.

This is normally though only necessary where you have users that are allowed to post in multiple areas of Navision, and thus posting dates by user are not enough.