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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Settle Open Transactio...
Microsoft Dynamics AX (Archived)

Settle Open Transactions-Fiscal Period

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Posted on by Zakeer Hussain 345

Hello All,

We are using Ax 2012r3. In AR we have auto settlement option ticked but still we see many Customers have transactions open. Anyhow when we try to Settle Open Transactions for previous month, it gives the error "Fiscal Period is not open". This is because we have previous periods on hold. It will go through if i open that period.

My question is do we need to have period open to do the manual settlements? I understand there is no physical entry it passes when we do manual settlement. And also what if we have transactions from previous year and want to settle this year. 

Kindly advise.

Thanks

Zakir

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  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Zakir,

    In the settlement form there is a data field option at the top that allows you specifying when you want to make a settlement.

    Best regards,

    Ludwig

  • Zakeer Hussain Profile Picture
    Zakeer Hussain 345 on at

    Hello Ludwig,

    Thanks for the prompt response.

    Does this settlement create any entry in GL in today's date or previous date.

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Zakeer,

    There should not be a GL transaction created unless you settle with specifying cash discounts or deductions.

    Best regards,

    Ludwig

  • Zakeer Hussain Profile Picture
    Zakeer Hussain 345 on at

    Thanks Ludwig.

    I will check about the GL entry part.

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