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closed the accounting period

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Posted on by fouad alshrif

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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.

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Zain Mehmood 2,715 on at

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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
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Ludwig Reinhard Microsoft Employee on at

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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 185 on at

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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 Microsoft Employee on at

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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
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Satish Panwar 14,645 on at

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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 185 on at

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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 Microsoft Employee on at

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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
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Ludwig Reinhard Microsoft Employee on at

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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