Is it possible to close accounting Periods month by month instead of the Fiscal Year in Navision ?

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Posted on by joshtechsolutions

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Hi Community,

I would like to find out is it possible to close accounting Periods month by month instead of the Fiscal Year in Navision ?

Say I only want to close up till June 2022?

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YUN ZHU 95,331 Super User 2025 Season 2 on at

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Hi, As far as I know, in Japan, China, the more formal practice should be closed every month.

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joshtechsolutions 4,971 on at

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Hi Zhu,

Thanks for your reply.

The reason I asked this is because I understand that when we select the Close Fiscal year button, we are closing the entire Fiscal Year, which means all 12 months will be ticked blue. May I ask which button should I select to close monthly?

If you can advise.

Thank you!

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YUN ZHU 95,331 Super User 2025 Season 2 on at

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Hi, hope the following helps.

1. Close Inventory Period: In this way, the inventory cannot be posted in and out in January.

2. Update the Allow posting date to next month in General Ledger Setup. In this way, the general journal cannot be posted to January.

PS: Allow posting date is also in the User Setup page, so it is best to update it together.

Thanks.

ZHU

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Dallefeld 211 User Group Leader on at

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Josh, the closed column really means nothing. It does not prevent you from posting to those periods. The important thing is General Ledger Setup allow posting from/to and User Setup allow posting from/to

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joshtechsolutions 4,971 on at

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Hi Kim,

Yes I realize that closing the column means nothing, but then accounts will come to me and ask, then why do we need to spend time to close the accounting period? Can you help give me reasons why we need to close the accounting period?

Is it due to auditing? I mean why would Navision provide a closing method which doesn't mean anything?

Hope you don't mind my curiosity, just want to provide a clear explanation to my stakeholders.

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Inge M. Bruvik 1,105 Moderator on at

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They don't need to spend time closing periods but they should spend time managing the posting allowed from and to date in the G/L setup and the user setup.

And of course they need to close the fiscal year. So there is not "close month / accounting period" process in Business Central like there are in many other systems.

The reason you do not want transactions in earlier months is usually because you have provided management with reports and then you do not want the figures in those reports to change for months where you have completed your reporting.

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joshtechsolutions 4,971 on at

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Hi Inge,

Sorry for the late report.

You mentioned that "They don't need to spend time closing periods" and you mentioned.. "And of course they need to close the fiscal year"

Aren't they the same thing?

I'm just curious why do we need to close accounting period, since user can still post in the same month/year even though it is closed.

Appreciate your thoughts.

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Inge M. Bruvik 1,105 Moderator on at

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My point is that there is not a specific procedure in the system that will close an accounting period. Except from what you do with the posting allowed to and from dates in the G/L Setup / User setup.

But when it comes to closing the year there is a procedure for moving the balance of your income statement to your balance statement.

But that does not mean that is nothing your accounts should do when the accounting period ends.

It is all pretty good described in this documentation:

docs.microsoft.com/.../year-close-years-periods

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