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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Year end close D365
Finance | Project Operations, Human Resources, ...
Suggested Answer

Year end close D365

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Posted on by Izabela 12

Hello,

General ledger/Period close/Year end close

Run fiscal close

 

The year end/close transactions are posting with non existing dimension in the account 860 (RetainedEarnings)structure.

e.g. 860-1000|9999|1-1-999|D055|M055-00|C|99|510-1000|M901|1  although it have only two dimensions in its structure. 

 

Is it corectlly that application alowed to do that? 

 

I would like to post the YearEndClose transactions on retained earnings account (860) with two dimensions only, and  all Offset accounts that are posted against my retained earnings account should still be posted with the all dimensions. 

For example: 

DT: 860-1000|9999|1-1-999|                                                                                     500USD

CT: 700-1001|D029|M029-00|R|01|700-1002|9999|1-1-999|V0PO|1                       100USD

CT: 760-2001|D058|M058-00|R|60|700-1003|9999|1-1-999|V0CZ|1                        400USD

 

How should I set up all parameters to do that? 

I read  this topic: community.dynamics.com/.../year-end-closing-retained-earnings

But it wasn't helpfull for my issue. 

 

I have the same question (0)
  • Suggested answer
    Magno Pereira Profile Picture
    Magno Pereira 2,435 Moderator on at

    Hello Izabela,

    You can configure this in the year end close template. There is a tab called "Profit and loss financial dimension" where you can define how to transfer the PL financia dimension.

    learn.microsoft.com/.../transfer-fixed-asset

    "The Transfer profit and loss dimensions section is used to specify which financial dimensions on transactions that are posted to profit and loss accounts will be transferred to the retained earnings main account. First, identify the financial dimensions that are relevant to the selected legal entity. These financial dimensions include any financial dimension that was posted against during the year, even if the financial dimension isn't part of an active account structure. Next, define each dimension as either Close single or Close all. The default option is Close all. This option maintains the original financial dimension values from posted transactions and uses them to create the opening balances for the retained earnings account. Separate retained earnings beginning balances will be created for each unique combination of financial dimension values. If Close single is selected, all posted transactions that have that financial dimension will be summarized into a retained earnings beginning balance for the dimension value that is entered in the field that appears after Close single. For example, all transactions for the fiscal year were posted with the account structure Main account - Department. For the Department financial dimension on the template, Close single is selected, and 100 is entered as the dimension value. If the total income of all transactions that are posted to departments 200, 300, and 400 is $100,000, one opening balance will be created for Retained earnings - 100. If you select Close single but leave the financial dimension value blank, all transactions will be posted to retained earnings, and the dimension value will be blank."

    It also depends on do you have your account structure configure for the retained earnings account.

  • Izabela Profile Picture
    Izabela 12 on at

    Hello Magno,

    Thank you, for your answer

    I have been trying define dimensions in "P&L fin. dim." tab, in many different varios, without success :)

    If i understand you correctly it is impossible to achive my goal:

    DT: 860-1000|9999|1-1-999|                                                                                     500USD

    CT: 700-1001|D029|M029-00|R|01|700-1002|9999|1-1-999|V0PO|1                       100USD

    CT: 760-2001|D058|M058-00|R|60|700-1003|9999|1-1-999|V0CZ|1                        400USD

    From my perspective system doesn't validate the account structure on Earinign account. Do you agree with me about that?

  • Suggested answer
    saurabh bharti Profile Picture
    saurabh bharti 15,039 Moderator on at

    While running the fiscal close, can you only select what you want and run?

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