Fiscal year Closing

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Hi All,

In the Opening Transactions form , we have the two fields

Delete close of year transactions during transfer

Create closing transactions during transfer

Could any one explain with an example of the above fields ?

Thanks in advance.

Verified Answer
  • Forgot to mention:

    AX2012: This field comes from the period of your fiscal calendar The fiscal calendar period reference is stored in the table GeneralJournalEntry

    AX2009: It is a field on the Ledger transactions itself: LedgerTrans.PeriodCode.

    kind regards,

    André Arnaud de Calavon  |  Microsoft Dynamics AX Solution architect  |  My blog  |  My company

    This post is my own opinion and does not necessarily reflect the opinion or view of my company, Microsoft, both its employees, or other MVPs.

All Replies
  • Hi Lally,

    The Delete close of year transactions during transfer is used when you want to run the opening transactions a second time. When the checkbox is disabled it will create transactions with the delta amounts. When the checkbox is enabled, it will first delete earlier created opening and closing transactions; then it will create complete new opening transactions. So disabled, you will have traceability on the number of executions of this process.

    The create closing transacions will create 'close' transactions on the end date of the prior year next to the opening transactions. You will then be able to export all transactions of multiple years in excel enabling the possibility to check the sum. If it is not enabled no closing transaction appear. You will then have the next transactions:

    2012 transaction  50

    2013 opening       50

    2013 transaction  25

    2013 transaction  25

    2014 opening     100

    The sum in Excel is now 250.

    When you have the closing transactions it will look like this:

    2012 transaction  50

    2012 closing       -50

    2013 opening       50

    2013 transaction  25

    2013 transaction  25

    2013 closing      -100

    2014 opening     100

    So the sum in Excel is now 100 and possible to reconcile with your period balances.

    kind regards,

    André Arnaud de Calavon  |  Microsoft Dynamics AX Solution architect  |  My blog  |  My company

    This post is my own opinion and does not necessarily reflect the opinion or view of my company, Microsoft, both its employees, or other MVPs.

  • Thank you for the explanation .

    Your help would be really an asset to me sir .

    As per the above example if i place the check mark in Create closing transactions during transfer ,balance would wrong right ?

    As per your experience should i select the field of Create closing transactions during transfer  in real implementations ?

    Could you share the pros and cons of this field selection ?

  • Hi Lally,

    My suggestion on any implementation is to turn on the check mark in Create closing transactions during transfer. The reason is the ability to reconcile when you view all your transactions per account over several years,

    lally

    As per the above example if i place the check mark in Create closing transactions during transfer ,balance would wrong right ?

    Can you explain this question please?

    kind regards,

    André Arnaud de Calavon  |  Microsoft Dynamics AX Solution architect  |  My blog  |  My company

    This post is my own opinion and does not necessarily reflect the opinion or view of my company, Microsoft, both its employees, or other MVPs.

  • Thanks Andre ,

    Should i place the check mark for the field " Delete close of year transactions during transfer " ? what is your suggestion ?

    If i place the check mark in the field Create closing transactions during transfer , As you said it will create the Closing entries also in the retained earning account .

    Is there any field available to bifurcate the entries of Normal , Opening and closing ?

    Please let me know the table name and field name in 2009 and 2012 ?

  • Hi Lally,

    The Delete close of year transactions is really dependent on the preference of the customer. If they want to see every attempt of closing the year seperately, do not enable it.

    If they want to have just one summarized amount per account/dimension combination, then turn on.

    There is no best practice for this parameter.

    In the account transctions there is a field called Type (other versions it was called Period code) which indicates Normal, Opening and closing.

    kind regards,

    André Arnaud de Calavon  |  Microsoft Dynamics AX Solution architect  |  My blog  |  My company

    This post is my own opinion and does not necessarily reflect the opinion or view of my company, Microsoft, both its employees, or other MVPs.

  • Forgot to mention:

    AX2012: This field comes from the period of your fiscal calendar The fiscal calendar period reference is stored in the table GeneralJournalEntry

    AX2009: It is a field on the Ledger transactions itself: LedgerTrans.PeriodCode.

    kind regards,

    André Arnaud de Calavon  |  Microsoft Dynamics AX Solution architect  |  My blog  |  My company

    This post is my own opinion and does not necessarily reflect the opinion or view of my company, Microsoft, both its employees, or other MVPs.