Dynamics 365 Business Central - Open a New Fiscal Year
Learn how to open a new fiscal year in Dynamics 365 Business Central with our handy video guide.
Learn how to open a new fiscal year
For many companies the fiscal year does not align with the calendar year. For example, the fiscal year might end on June 30th rather than December 31st. For newly created companies, the fiscal year might actually be longer than 12 months.
Before you can post in a fiscal year, you must open the fiscal year and define its accounting periods. To open a new fiscal year, choose the Search icon, enter 'Accounting Periods', and then choose the related link. In the Accounting Periods window, choose the 'Create Year' action. Fill in the fields to define the structure of the fiscal year.
The fiscal year is typically 12 periods of one month each, but you can also divide it in other ways. Choose the 'OK' button.
The accounting periods are added to the page. The Starting Date and Name fields are filled in. The Name field uses the name of the month from the starting date. After the last period in the fiscal year, an accounting period is inserted and the New Fiscal Year check box is selected.