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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Creating Previous Fisc...
Finance | Project Operations, Human Resources, ...
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Creating Previous Fiscal Year

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Posted on by Abel_INDEP 2

Hi, I hope you're doing well!

I'm working on an F&O implementation and I've run into a dilemma.

How can I add a previous fiscal year? The system isn't letting me add one prior to the start of the legal entity's lifespan.

Is there a configuration setting that controls this?

Thanks in advance for your help!

Categories:
Dynamics 365 Finance
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  • Suggested answer
    Sathish Kumar Palanisamy Profile Picture
    Sathish Kumar Palan... 29 on at
    Creating Previous Fiscal Year
    Hi 
     
    As per my experience, we can’t add a fiscal year prior to the legal entity’s start date unless you adjust the legal entity’s lifespan which requires development, This restriction is by design in D365 F & O to ensure financial integrity.
  • Suggested answer
    AX-GUYX Profile Picture
    AX-GUYX 42 on at
    Creating Previous Fiscal Year
    If the existing fiscal calendar configuration is incorrect, follow these steps to implement a corrected setup:
    Create a new fiscal calendar with the correct start and end dates.
    Navigate to General ledger > Ledger setup > Ledger.
    Edit the ledger record and assign the newly created fiscal calendar.
    Execute the Recalculate ledger periods process to ensure all transactions align with the updated fiscal structure.

    Best Regards
    Umar Shahzad

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