All your journal entries are done, all of your modules balance to the general ledger, and your inventory period is closed. You are ready to get that income statement rolled up and close the year. Now where were those instructions? It’s not unusual to be a little unsure about the year end close process – we only get to do it annually, so no one will blame you if you can’t remember exactly what you did last year, and in what order. Here are a couple of resources to help you out.
ABC Computers, Inc. has a nice entry on their technology blog, “How to Close a Fiscal Year in Microsoft Dynamics NAV: Instructions for Annual Closing Operations“. This goes through a quick top level summary and then a deep dive into the closing process with field by field instructions.
If video learning is more your style, Archerpoint has a short 3-4 minute video out there, “Closing the Fiscal Year in NAV” that shows the annual closing process screen by screen.
Finally, you can always get the full manual on the year end closing process straight from Customer Source. Log in and type in 80041 into the search box. This will get you directly to the “Finance in Microsoft Dynamics 2009” Microsoft course. Download the course and go straight to the file for Chapter 10 – Year End Closing Processes.
Remember, you can always make entries after you’ve gone through your initial income statement rollup. You don’t need to wait for that very last entry to get this process going.