Microsoft Dynamics NAV Year-End Processing Checklist

trinsoft.com Dynamics NAV Period End Close Processes Designed for NAV 2016 Updated: 2/8/16 How to: Complete Period-End Processes Microsoft Dynamics NAV You are not required by the program to close periods, however, there are many month-end activities that can be performed if you wish to do so. The following is a list of those procedures, which may or may not be necessary for your company. General Ledger (perform all other subsidiary areas first) Specify system-wide and user-specific Posting Date ranges. Depending on your business needs, you may want to restrict user posting date ranges at the start of the period-end process. Process sequential transaction and costing transactions (see below) Process Recurring Transactions Process Deferrals and Accruals Update Cashflow Forecasting Transfer Costs from GL, Calculate Allocation Keys and Allocate Costs Create and Close fiscal periods as necessary (year-end) Sales & Receivables All Sales Orders, Invoices, Credit Memos, and Return Orders are posted All Cash Receipt Journals have been posted Update and Post Recurring Journals related to Sales & Receivables Reconcile Accounts Receivable to the general ledger Run the Delete Invoiced Sales Orders batch job Purchases & Payables All Purchase Orders, Invoices, Credit Memos, and Return Orders are posted All Payment Journals have been posted Update and Post Recurring Journals related to Purchases & Payables Run the Aged Accounts Payable report and reconcile A/P to the general ledger Run the Delete Invoiced Purchase Orders batch job Fixed Assets All Maintenance costs have been posted through the FA Journals or Invoices Post Adjustments Post Appreciation Post Depreciation Update and Post Recurring Fixed Asset Journal

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Transcript of Microsoft Dynamics NAV Year-End Processing Checklist

Page 1: Microsoft Dynamics NAV Year-End Processing Checklist

trinsoft.com

Dynamics NAV Period End Close Processes Designed for NAV 2016 Updated: 2/8/16

How to: Complete Period-End Processes Microsoft Dynamics NAV You are not required by the program to close periods, however, there are many month-end activities that can be performed if you wish to do so. The following is a list of those procedures, which may or may not be necessary for your company.

General Ledger (perform all other subsidiary areas first) Specify system-wide and user-specific Posting Date ranges. Depending on your business needs, you may want to restrict user posting date ranges at the start of the period-end process. Process sequential transaction and costing transactions (see below) Process Recurring Transactions Process Deferrals and Accruals Update Cashflow Forecasting Transfer Costs from GL, Calculate Allocation Keys and Allocate Costs Create and Close fiscal periods as necessary (year-end)

Sales & Receivables All Sales Orders, Invoices, Credit Memos, and Return Orders are posted All Cash Receipt Journals have been posted Update and Post Recurring Journals related to Sales & Receivables Reconcile Accounts Receivable to the general ledger Run the Delete Invoiced Sales Orders batch job

Purchases & Payables All Purchase Orders, Invoices, Credit Memos, and Return Orders are posted All Payment Journals have been posted Update and Post Recurring Journals related to Purchases & Payables Run the Aged Accounts Payable report and reconcile A/P to the general ledger Run the Delete Invoiced Purchase Orders batch job

Fixed Assets All Maintenance costs have been posted through the FA Journals or Invoices Post Adjustments Post Appreciation Post Depreciation Update and Post Recurring Fixed Asset Journal

Page 2: Microsoft Dynamics NAV Year-End Processing Checklist

2 TS DynamicsNAV PeriodEndCloseProcesses.docx trinsoft.com trinsoft.com

Intercompany Process Intercompany Postings

VAT and Intrastat Calculate and Process VAT Report Intrastat

Tasks to be Performed Sequentially (Execute these tasks prior to starting General Ledger close):

The following processes, which affect Manufacturing, Inventory, and General Ledger, should be performed sequentially. Manufacturing All Consumption and Output has been posted All completed Production Orders have been changed to a status of Finished

Inventory Make all necessary inventory adjustments using the item journal Run the Adjust Cost - Item Entries batch job Run the Post Inventory Cost to G/L batch job Run the Inventory Valuation report and reconcile Inventory and COGS to the general ledger Reconcile WIP to the general ledger Create new inventory periods (if needed) Close Inventory periods