Post-close entries in NAV

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Posted on by Nagendra Shivaswamy

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we are using NAV 6.0. I would like to know whether NAV has feature of posting 'Post-Close' entries? Once we close the books and the financial year, are there provisions of posting these adjustment entries to facilitate audit adjustments?

Right now, i am able to see this closure entry possible for annual closures. Is there a way i can do this monthly?

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TWBlaisdell on at

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Re: Post-close entries in NAV

Hi Nagendra,

If you post to a NAV closed period, then the Prior Year entry flag in the G/L Entries will be set to TRUE indicating that the entry was posted after the close of the Fiscal Year. This would provide the option of filtering on those Prior Year Entry = TRUE entries to identify the post-closing entires posted. However, NAV doesn't have a true 13th period, other than that the C-Date closing entry is a period between 12/31 and 01/01 (for a calendar year Fiscal Year).

As for monthly closing, there is nothing preventing the closing of each period. However, it would lead to reporting challenges, in my opinion, because you would have some challenges doing cross month income and expense reporting.

Thanks

Tom

Microsoft Contributor
Gabor Faludi2 50 on at

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Re: Post-close entries in NAV

Hi,

Not for G/L Accounts. You need to do it manually or ask your partner to provide a solution for that.

g.