Tips to Successfully Close Out the Year with Microsoft Dynamics NAV
It's the most wonderful time of the year for controllers and accountants the world over-year end.
And as year-end approaches for most companies, there are a number of steps you need to take to successfully close out the accounting and inventory periods for the fiscal year.
Lee Weiner, Board of Advisors at Dynamics NAV User Group and CFO at Bradshaw Group, offered some tips to members of the group to help the process run smoothly. Weiner shared some best practices associated with year-end closing processes with Microsoft Dynamics NAV 5.0.
Create a new year
One of the most important things to remember is that you can't close out the current year until you create a new year.