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closed the accounting period

Posted on by 185

Hello everyone,

I closed the accounting period in error and wanted to reopen it to make adjustments to the opening balances What is the solution?

Thanks.

  • Zain Mehmood Profile Picture
    Zain Mehmood 2,715 on at
    RE: closed the accounting period

    Hi Fouad,

    Can you tell how did you close the financial year? Did you only run the periodic job for opening balances or setup close fiscal year parameter from GL?

    Regards,

    Zain

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: closed the accounting period

    Hello Fouad,

    You are right.

    If you want to have the opening balances for 1/7/2019 corrected you will have to open June 2019, make the adjustments and then process the opening transactions again. This will correct the initial opening balance.

    The problem that you have is though that you need a technical expert/developer to open June 2019 for you. You cannot do this yourself from the D365FO webclient.

    Best regards,

    Ludwig

  • fouad alshrif Profile Picture
    fouad alshrif 185 on at
    RE: closed the accounting period

    Hi Dr.Ludwig

    After we introduced the opening balances of the system for the first time on 30-6-1919 as an opening observation for the period from 1-7-2019 we closed the accounting period (month 6) in error and then we found there are some balances need to be adjusted

    We want to enter GL with the difference in 1/7/2019, but Trial balance from 1 /7 / 2019 will not show the opening balances correct and will be considered this restriction within the  transaction of the period

    a lot of thanks.

    Fouad

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: closed the accounting period

    Hi fouad,

    What do you mean by 'amendments'?

    Can you explain in more detail what has been done to record them?

    Many thanks,

    Ludwig

  • Suggested answer
    Satish Panwar Profile Picture
    Satish Panwar 14,645 on at
    RE: closed the accounting period

    Hi Fouad,

    Suggest that you don't make changes to opening balance directly (not sure how will you do that as it's calculated number based on year close). Instead open the period and then post transaction in regular period and then close year to get updated opening balances. This will make sure your financials are accurate. Also if you ever recalculate balance, you will not run into any issues following approach above.

  • fouad alshrif Profile Picture
    fouad alshrif 185 on at
    RE: closed the accounting period

    Good morning Dr.Ludwig

    Thank you very much for your interest

      Is there a problem if amendments are made to the opening balances at the beginning of the next period?

    Note that we are implementing a new system and we want to enter the opening balances of the system has been wrongly closed the period

    Best regards,

    fouad

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: closed the accounting period

    Good Morning Fouad,

    Have you been able to find some technical help and got this issue resolved?

    Best regards,

    Ludwig

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: closed the accounting period

    Hi Fouad,

    You have to get into contact with a developer because you cannot do this from the D365FO/AX client.

    Best regards,

    Ludwig

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