Close of financial year in Ax and transferring opening balance to new financial year

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Hello Friends,

Could someone help me to advise the process for closing the financial year in Ax, so that all the balance sheet item appears as a opening balance in the next financial year and the PNL balance is transferred to retained earnings for next financial year.

I have tried closing the financial year by conducting following steps but when I run the Trial Balance for next financial year, it does not have a opening balance?

a. Completed all the transaction for the year including year end revaluations

b. Under the ledger form --> Ledger calendar --> have put all the period 'On hold' except the 13th period (which is the period with date 31st December)

c. Under GL --> Periodic --> Fiscal year close --> opening transactions --> entering the values as attached

After running the opening balance, the entry gets generated with date 1st January 2014.

Hence when we generate the Trial balance for 1st Jan 2014 to 31st Dec 2014, it does not have any opening balance.

This also has an issue with running the Ledger balance for current year, which does not show any opening balance and also has a impact on bank revaluation at the year end, which only takes the transaction for the period selected without taking the opening balance.

Would appreciate if you could advise if I am missing anything to close the financial year. Just to highlight that on my Chart of Account form, the ledger account DOES NOT have any field entered for 'close' which is either of Capital, Balance or Result.

Thank you,

Hitesh

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André Arnaud de Cal... 301,069 Super User 2025 Season 2 on at

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Hi Hitesh,

Have you selected the report option "Include opening transaction amounts in detail"?

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Community Member on at

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Hi Andre,

Thanks again.. yes, have selected the report option 'include opening transaction amounts in detail' while generating the summary trial balance.

Thanks,

Hitesh

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Ludwig Reinhard Microsoft Employee on at

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Hello womar - accounts,

That is quite interesting. I checked the same form in my AX2012R3 CU9 system and the opening transactions are not explicitly included in the Trial Balance list page form.

Please check the following reports that do include those opening/closing transactions:

* Detailed Trial Balance Report

* Close-of-year-Transactions

* Balance list with the criteria "opening Balance" selected

All reports can be found in GL/reports/Transactions...

Hope it helps,

Ludwig

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Community Member on at

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Dear Ludwig,

Many thanks for below, though the detailed trial balance or ledger report shows the opening transactions, however it still shows as current year transaction rather than showing it as opening balance, which technically is incorrect.

I have seen that one of our other company when closed the financial year last year, was able to show the opening balance. Not sure as why is it not taking the effect now. Certainly am missing something here or ??

Thanks again..

Best regards

Hitesh

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Ludwig Reinhard Microsoft Employee on at

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Hello Hitesh,

Can you possibly try rebuilding / updating your balances under GL/Setup/fianancial dimensions/financial Dimension sets?

Ludwig

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Community Member on at

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Thank you Ludwig,

This is a great suggestion, however before I could try with your suggestion, I tried by unchecking the field "Include opening transaction amount in total" and surprisingly am able to see the opening balance on the Trial Balance.

Thank again.

Best regards,

Hitesh

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Community Member on at

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Womar, where is this field? Do you know if it still exists in D365? I seem to be running into the same issue you were having. Thanks.

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