Fiscal Year Closing – MS Dynamics AX 2009

1.      Open AX - General Ledger (GL)

2.      Navigate to Setup –> Periods

3.      Close each month, one by one, in the Fiscal Year, Say 2015. This is done by selecting “closed” from the drop down menu in “Status” of each month. After the first 11 months, there will be 1^st Dec 15 and 31^st Dec 15. Close both.

4.      Close Periods and Navigate to GL -> Periodic -> Fiscal Year Close -> Opening Transactions. 

§  Enter End Date

§  Create a new ledger account for saving the profit/loss of the closed fiscal year (2015 in this case). GL -> Chart of Accounts.  In my case it is 3310101015. Select that account under “Account for transfer of year – end result”

§  Give a voucher number such as “Closed 2015”. This is for your reference only and you can name it anything you want.  This is to reflect in the opening balances of ledger accounts affected. So when you open other ledger accounts, the opening balances of 2016 will be labeled as “Closed 2015”.

§  Click OK

5. The year closing will take a few minutes. Once the pop up window showing the details is done, the year is now closed.

6. You can re-open GL -> Setup -> Periods to verify “Year Closed” in status as seen below. 

7. You can go to the profit / loss account which you created earlier and take its statement to check the profit/loss generated, from GL -> Chart of Accounts.

Comments and suggestions are most welcome.