Create a New Overview

This document details the procedure for creating a new fiscal year.

Versions

All; screenshots are from Microsoft Dynamics NAV 2009 RTC

Frequency

Annually (can be done for several years in advance)

Procedure

Before you can post in a fiscal year in Microsoft Dynamics NAV 2009: • The fiscal year must be opened. • periods must be defined.

The shortest possible accounting period is one day and at least one accounting period must be set up for each fiscal year.

The Accounting Periods window is used to:

• Open new fiscal years • Define accounting periods • Close fiscal years

Accounting Periods can be created by using one of the following methods:

• Automatically, by using the Create Fiscal Year batch job • Manually

Set Up an Accounting Period Automatically

To run the Create Fiscal Year batch job, follow these steps:

1. In RTC click the DepartmentsAdministrationApplication SetupFinancial ManagementFinanceAccounting Periods (under Lists). In Classic Client, click Financial ManagementGeneral Periodic ActivitiesFiscal YearAccounting Periods.

2745 N. Dallas Pkwy. Suite 530 ◊ Plano, TX 75093 ◊ Tel 972.612.1122 ◊ Fax 972.612.3311 ◊ www.cbsi-corp.com

Created 02/012012

Create a New Fiscal Year

2. Click Create Year.

3. In the Starting Date field, enter the date on which the fiscal year starts.

4. In the No. of Periods field, enter the number of accounting periods the fiscal year will be divided into. There can be from 1 to 365 periods. 5. In the Period Length field, enter how long each accounting period will be, for example, 1M = 1 month, 1Q = 1 quarter, and so on. 6. Click OK.

2745 N. Dallas Pkwy. Suite 530 ◊ Plano, TX 75093 ◊ Tel 972.612.1122 ◊ Fax 972.612.3311 ◊ www.cbsi-corp.com

Created 02/012012

Create a New Fiscal Year

Set Up an Accounting Period Manually

To manually set up an Accounting Period, follow these steps:

1. In RTC click the DepartmentsAdministrationApplication SetupFinancial ManagementFinanceAccounting Periods (under Lists). In Classic Client, click Financial ManagementPeriodic ActivitiesFiscal YearAccounting Periods. 2. In RTC, click New. In Classic, go to the blank line after the last period. 3. In the Starting Date field, enter the date that the accounting period begins. 4. In the Name field, the system automatically updates the name of the month that corresponds to the Starting Date. 5. Select the New Fiscal Year check box to indicate the start of the year. 6. Repeat steps 4-5 for each month in the period. 7. The New Fiscal Year check box must contain a check mark if an accounting period is the first one in a fiscal year. Microsoft Dynamics NAV 2009 uses that period to determine which periods to close when the Close Year function is run.

2745 N. Dallas Pkwy. Suite 530 ◊ Plano, TX 75093 ◊ Tel 972.612.1122 ◊ Fax 972.612.3311 ◊ www.cbsi-corp.com

Created 02/012012