Question
A company is preparing to complete a year-end close process.
You need to configure the Dynamics 365 Finance general ledger module.
Which three configuration actions should you perform? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. Configure the Fiscal year close parameters Correct
- B. Configure the ledger calendar for the new fiscal year
- C. Set up the year end close template Correct
- D. Validate the main account type
- E. Create the next fiscal year Correct
Explanation
Configure the Fiscal year close parameters on the General ledger parameters page (delete existing entries, create closing transactions, permanently closed status). Set up the year-end close template, which holds the retained earnings accounts and the dimension transfer settings. Create the next fiscal year so the opening balances have a year and periods to be transferred into. Validating the main account type is a check made on existing accounts rather than a configuration action, and the ledger calendar for the new year is created with the fiscal year itself.
