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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Year End Closing > ...
Microsoft Dynamics AX (Archived)

Year End Closing > Retained Earnings

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Posted on by PaladinSteve 290

Hello,

Our Fiscal year end was 30 Sep and this is our first year closing. Our GL Account structure is set up like this:

Main Account-Business Unit-Site-Cost Center

Balance sheet accounts include only the first 3 dimensions. Income statement accounts other than revenue & COGS accounts add the Cost Center dimension. This is limited using Ledger account structures. We expected that the Retained Earnings account, falling within the Balance Sheet account range, would only include the first three dimensions (Main Account-Business Unit-Site). However, when we did a test environment transfer of opening balances, postings were created in Retained Earnings for all of the various cost centers.

How do I get AX to roll up Profit & Loss entries to the Site level only?

Current Settings - General

Transfer Method is Closing ->Opening

Main Account is set to the Retained Earnings GL Account

No voucher number is entered

Print created transactions is unchecked

Current Settings - Financial Dimensions

Transfer Financial Dimensions is checked

Under close all - Business Unit, Cost Center and Site are all checked/greyed out

*This post is locked for comments

I have the same question (0)
  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi PaladinSteve,

    Do you have the parameter 'create closing transactions during transfer' activated?

    What is the account type of your 'retained earnings account' in the COA?

    Why didn't you enter a voucher number?

    Best regards,

    Ludwig

  • PaladinSteve Profile Picture
    PaladinSteve 290 on at

    No, that parameter is not checked. Neither are "Delete close-of-year transactions during transfer" or "Set fiscal year status to closed" (which we are definitely NOT ready to do yet).

    The Retained Earnings account type is Equity and Main Account Category is RETEARN. Close is set to Result. Posting Type is blank and Validate Posting is Optional. Under advanced rules, it seems to be set to the account structure that includes the cost center, even though it isn't in the appropriate range.

    Nothing was entered for the voucher number because I have no idea what to enter. I would assume if transactions are created, the system would assign a voucher number from an appropriate sequence if that was left blank.

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

    Hello PaladinSteve,

    Can you activate the "delete close-of-year transactions during transfer" parameter for testing purposes in your demo system?

    (Note: activating this parameter will allow you deleting the previously created closing postings, which makes it easier identifiy what might need to be changed. Otherwise, you will see 'delta' transfers and if there is no additional posting to be transferred, nothing should happen).

    In addition, please deactivate the check box for the financial dimension 'cost center' that you do not want to have posted with your retained earnings account. If you take out the Checkbox for this financial Dimension you won't see a posting with the cost Center on your retained earnings account. Yet, all Offset accounts that are posted against your retained earnings account might still be posted with the cost Center.

    Would be great if you could test this and let us know if this resolved your issue.

    Many thanks and best regards,

    Ludwig

  • PaladinSteve Profile Picture
    PaladinSteve 290 on at

    I have not had an opportunity to test this. Apologies for the delay in responding, but it will likely be next week before I am able to revisit the issue.

  • PaladinSteve Profile Picture
    PaladinSteve 290 on at

    Hello Ludwig.

    I was finally able to revisit this issue.

    I was not able to check the box for "delete close of year transactions during transfer".

    I deactivated the check box for the financial dimension "cost center" and ran the transfer. It appears to have closed the retained earnings without adding a cost center.

    Thank you. This resolved my issue.

  • Community Member Profile Picture
    Community Member on at

    Ludwig, could you please elaborate as to which 'check box' you are referring to that needs to be deactivated?

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hello AdrianYoung,

    It is the "delete close of year transactions during transfer" parameter that you can find in the GL parameter form.

    Best regards,

    Ludwig

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