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Hi Community,
In Accounting Periods, may I know:
1. When do we check the closed for every month?
2. When do we checked the Date Locked?
3. When do we checked the Inventory Period Closed?
Thank you!
Josh,
Good questions. The Closed and Date Locked fields you cannot manually check them on the Accounting Period page. The Closed will be flagged when you run the Close Year. The Date Locked specifies if you can change the start date of an Accounting Period. When you first Create Year the starting date of the year is Date Locked. Shen you Close Year all the Date Locked fields, for that year, will be flagged TRUE.
Inventory Period Close will flag TRUE when you run Close Period off the Inventory Periods page.
I am attaching a handout.
Hope this helps.
Thanks,
Steve
FIN-MGMT-SETUP_5F00_NAV2013_5F00_ENUS_5F00_FINESS_5F00_01.pdf
Hi, I think this has something to do with the regulations of each company. For example, if a company closes the account on the third working day, it will generally close the inventory period on the first working day to limit the movement of inventory, and then do accounting for the remaining two days. They may close the Accounting period on the third business day.
In other words, when your last month's inventory moves are over, close the inventory period.
Last month's accounting process is over, close the accounting period.
Companies should do this every month.
Hope this will help.
Thanks.
ZHU
Hello Josh,
Hope the information below can help you:
1. When do we check the closed for every month?
"In NAV, all periods within the fiscal year are closed at the same time when you run the “Close Year” function from the “Accounting Periods” page. Periods in NAV are not closed per month."
FAQ: Year-End Closing in NAV | Stoneridge Software
How to Close a Fiscal Year - Dynamics NAV App | Microsoft Docs
Close Accounting Periods for a Fiscal Year - Dynamics NAV App | Microsoft Docs
2. When do we checked the Date Locked?
Date Locked means the date cannot be changed.
Date Locked is enabled once the prior fiscal year is closed, and cannot be changed after that.
Date Locked Field, Accounting Period Table | Microsoft Docs
3. When do we checked the Inventory Period Closed?
How to Work with Inventory Periods - Dynamics NAV App | Microsoft Docs
Managing Inventory Periods in Microsoft Dynamics NAV - ArcherPoint
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