How to: Open a New Fiscal Year

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

1. In the Search box, enter Accounting Periods, and then choose the related link.

2. In the Accounting Periods window, on the Actions tab, in the General group, choose Create Year.

3. 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. For more information about a specific field, select the field, and then press F1.

4. Choose the OK button.

Microsoft Dynamics NAV creates the accounting periods and shows the result. It fills in the Starting Date field and fills in the Name field by using the name of the month from the starting date.

After the last period in the fiscal year, Microsoft Dynamics NAV inserts an accounting period and the New Fiscal Year field is selected.

See Also

Tasks

How to: Specify Posting Periods
How to: Close Accounting Periods
How to: Post the Year-End Closing Entry