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Five Steps to Complete Your Microsoft Dynamics AX Inventory Close for 2009, and Prepare for 2010

by Sanam Khan
Senior Consultant,
January 05 2010

I recently provided guidance for handling the inventory close process using Microsoft Dynamics AX. In this followup article, I provide five steps for completing the year-end 2009 inventory close in such a way that you prepare your organization for handling the same process more efficiently in 2010.

1. Prepare to run the inventory close.

Before you perform the inventory close, the following tasks are recommended: 

--Make sure that the inventory model assigned to the item on the Inventory model tab of the Inventory model groups form is accurate. Inventory close will settle transactions to each other based on the current inventory valuation method assigned to the item.

--View or print the Open quantity report by clicking Inventory management > Periodic > Closing and adjustment > Close procedure > 1. Check open quantities. This report will print a list of inventory transactions that will remain open after the inventory close is performed.

For example, you have an item that includes the following transactions:

  • Inventory physical receipt for a quantity of 10
  • Inventory financial issue for a quantity of 3

In this case, the report will show an open quantity of 3, since this financial issue cannot be settled to any transactions. The Open quantity report also includes a Show receipts option that lets you view all the physical receipts posted for an item and all the open quantities that will remain after an inventory close for the date specified.

--Print or view the Investigation of cost price for receipts report by clicking Inventory management > Periodic > Closing and adjustment > 2. Check cost prices. This report allows you to enter a maximum deviation percentage. Items that appear on this report will be only ...

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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. 


More about Sanam Khan
Submitted by Hassan123 on Thu, 01/07/2010 - 07:35 Permalink

Dear Sanam I read your article on inventroy close and found it really helpful. The step wise procedures and attention to details was very good.Very easy language and simple but helpful in many regards. I definitely learned a few new things about this year end inventroy closings well done.Will look forward to your new artilces on related topics as well Hassan

In reply to by anonymous_stub (not verified)

Submitted by najam.saqib on Mon, 01/18/2010 - 05:18 Permalink

This one is the second article from you and I am very much impressed by the effort you have put into it. No doubt a number of AX-2009 users will be pleased to get help from these articles. Moreover, you have picked up one of the most important, difficult and most ignored subject in overall AX processes. Where on the one side you are contributing to you own professional growth, on the other side you are uplifiting the Company's image and providing a lot of benefit to the users all over the world. Hope you will continue with your such efforts and very soon will become one of the few top level experts in AX-2009. God bless you and good luck ---------------------- Najam

In reply to by anonymous_stub (not verified)

Submitted by roger.laine@ci… on Thu, 02/25/2010 - 08:01 Permalink

Hi Sanam Well done for sticking your neck out to provide a very useful summary of the steps to take to co-ordinate Year-End and Stock Close. I found the summary very thorough. On one point of detail you say that Recalculation makes a "virtual" settlement that is not stored in the InventSettlement table, but in fact the settlements made by the Recalculation are stored in the table and can be seen from the Settlements button. Regards RogerL

In reply to by anonymous_stub (not verified)