Why the Fiscal Year Close in Microsoft Dynamics AX 2009 Is So Important, and How to Get It Right

When a company finalizes its accounts for a particular year using Microsoft Dynamics AX and doesn't want to make any further changes in that year, it can then close that year by using 'Fiscal Year Close'.

At that point, the records of that year will be available only for view. No more changes are possible in that year. If you have filed your returns for any particular year and don't need to make any changes, you can close that year.

You can close individual years only serially. i.e., the record of the first financial year will be closed first and then the next. You can't close a recent year if any of the previous years is not closed.

But, not surprisingly, it's all more complicated than that. Here are suggestions to close the previous fiscal year and prepare for the new one:


Pre-Requisites

...

Requires FREE Membership to View

Login
Become a Member Joining MSDynamicsWorld.com gives you free, unlimited access to news, analysis, white papers, case studies, product brochures, and more, and it’s all FREE. You’ll also receive periodic email newsletters with the latest relevant articles and content updates.
About Sanam Khan
Sanam Khan is an ERP senior consultant  with Maison Consulting & Solutions, ERP partners of Microsoft in Pakistan and the Middle East. She has implemented many Microsoft Dynamics AX projects, both in Pakistan and elsewhere. She specializes in Dynamics design and analysis, requirement specification definition, proof of concept, business process mapping BMP, business process reengineering BPR, team leading, IT project implementation / Management , data conversions, integrations, ERP pre-sale activities and post-implementation support roles. 

 

Read full bio...

Article on AX Year-end Close

It is simply FANTASTIC. Good jobl done. Very useful for every organization useing AX.
A MUST READ for ERP connected people. Congratulations of Ms.Sanam

Excellent.

Excellent Article in deed.

Article on AX Year-end Close

Awesome,
Must say great Work.....Keep it up and good luck for the future.
Regards,
Waqas
http://waqasb.blogspot.com/

The best guide to Fiscal year Close for AX

Hi Sanam

A Superb guide to the Fiscal Year Close in AX.

Regards
RogerL