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Dynamics Ax 2009 Financials : Year-End process

Please find the Year-end closing process below:

Step 1: Create a new fiscal year


Path: Dynamics Ax > General Ledger > Setup > Periods > Periods




Click button 'Create new fiscal year'





Click 'OK'


12 monthly lines get created with open status.



Step 2: Control transactions in a closing period


Path: Dynamics Ax > General Ledger > Setup > Periods > Periods


A closed period cannot be reopened. Therefore, permission to close periods and years should be highly restricted.



Select 'Stop' from list and this prevents transactions posting in the system for that period, perfom same operation for 12 monthly periods.


Step 3: Change module status




Select the appropriate module and set the user group required access by selecting from list view in the above screen.


Step 4: Create Closing sheet


Path: Dynamics Ax > General Ledger > Periodic > Fiscal year close > Closing sheet



Set field 'Closing sheet'     = 06/30/2011

Set field 'Name'                  = Closing Sheet as on 06/30/2011

Set value 'Posting layer'     = Current

Set value 'Period code'       = Closing


Note: Only 'Normal' and 'Closing' options can be used in closing sheet.  'Opening' option can be used for beginning balance transaction.


Click button 'Closing accounts'



Click button 'Load balances'



Notice the accounts and balances got updated in the screen.


Step 5: Make adjustments or transfers between accounts


Select an account line from the loaded balances and click button 'Transfer'


Note: For system reconciled accounts 'transfer' button would be disabled.



Set field 'Transaction text' = Closing transfer

Set field 'Amount' = -1500 (difference amount which needs to be transferred)

Select field 'Offset account' = 999999  (The offset account could be any relevant account, here I took example of 'Error account - 999999')

Click 'Save'

Close form 'Transfers'

Form 'Closing accounts' becomes active

After the necessary transfers or adjustments are complete, click the Post button from the Closing accounts form to post the closing sheet. The closing sheet only posts to the closing period.

At this time, also run reports and verify results before you close the period and transferring ending balances into the new year as opening balances.

Note: To post the closing sheet, you must open the closing period in the Periods form. After you post the closing sheet, ensure that you change the period back to Stopped.


Click button 'Close'


Step 6: Transfer Opening Balances & Setup Fiscal year close parameters


Enable GL Parameters:


Path: Dynamics Ax > General Ledger > Setup > Parameters > Ledger tab

 Fiscal year close:

 Delete close-of-year transactions during transfer : If this check box is selected, opening transactions and system-generated closing transactions that exist for the year to be closed are deleted when the transfer is processed again.

Create closing transactions during transfer : By enabling this option, have the system create closing transactions when running the opening transactions job.

Set period status to year closed : Select this check box to display a status of Year closed for all fiscal periods for the year that is being closed.

Voucher number must be filled in : If this check box is selected, a voucher number must be entered when opening transactions are created for a new fiscal year.


Note: If a period is closed, adjustments, which may be required by the auditor, are not possible.


Transfer opening balances procedure:


Path: Dynamics Ax > General Ledger > Periodic > Fiscal year close > Opening transactions



Click tab 'Dimension'



Dimension selection can be done here to transfer opening balances


Click button 'OK'


Please find the report of Closing transactions & Opening transactions



This completes the Year-End Closing process.


Comments (11)
  1. Carlos Conde says:

    If you mess up the close, although you can change this Post.

  2. Siva Jammalamadaka says:

    Opening entries can be validated through running financial statement for next year.

    Please make sure if consolidations are done in AX then this closing process should happen for consolidation company as well.

  3. Raghav says:

    Sival Thanks a lot for updating this post.

    Also could you please let me know how can I check whether opening balances or transferred or not.

  4. Srikanth says:

    Brilliant Man!

    Keep up the good work.

  5. shan says:

    We plan to conduct our first stock take on 23 March 2013.

    I have gone through the UAT documents but I just need to clarify:

    1) if I key in the stock take date in AX as 23/3/2013, does it mean that all stock take variances will be adjusted and effected based on the date we keyed in?

    2) even though my stock take is on 23/3/2013, can I actually key in the date being 1/4/2013 so that the stock take differences can be adjusted in April 2013 instead?

    Bear in mind that our stockholding is quite high, variances identified during the first round will need to be ivestigated and can only be finalised one week later (end March).

    My concern is how can we adjust the variances, managing the movement after the stock take (say on 25/3/13, Monday) before we finalised the variances to be adjusted?

    pls advice

  6. I am working with CU3 and the Transfer to opening balances has changed.  It now requires posting definitions?  Any ideas on how to best do this now?  Thank you.

  7. John says:


  8. Arif says:

    Hi Siva

    Can you please share with us related AX2012  functional articles, related AP, AR, Production and GL financial transactions, you have really good command on AX functional aspects.



  9. srikant says:

    Hi Siva, really good work u have done.

  10. Yes, As part of consolidation company setup we can configure at chart of accounts level.

    Path: Dynamics Ax > General Ledger > Common forms > Chart of accounts > Select depreciation accounts and click 'General tab'

    Find the field 'Consolidation conversion' which contains 3 options 'Average, Closing & Historical'.

    Historical can be used here for system to consider historical rates mentioned in the exchange rates form.

    Ref: Financial-consolidations-dynamics-ax-2009 (part-1) > Consolidation setup > Chart of accounts setup

  11. Biju John says:

    Hi Siva.. Thaks a lot.. the post was really usefull 🙂

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