Question
You are configuring the year-end setup in Dynamics 365 Finance.
You need to configure the year-end setup to meet the following requirements:
✑ The accounting adjustments that are received in the first quarter must be able to be posted into the previous year's Period 13.
✑ The fiscal year closing can be run again, but only the most recent closing entry will remain in the transactions.
✑ All dimensions from profit and loss must carry over into the retained earnings.
✑ All future and previous periods must have an On Hold status.
Solution:
✑ Configure General ledger parameters.
- Set the Delete close of year transactions option to Yes.
- Set the Create closing transactions during transfer option to Yes.
- Set the Fiscal year status to permanently closed option to Yes.
✑ Define the Year-end close template.
- Designate a retained earnings main account for each legal entity.
- Set the Financial dimensions will be used on the Opening transactions option to Yes.
- Set the Transfer profit and loss dimensions to Close All.
✑ Set all prior and future Ledger periods to a status of On Hold.
Does the solution meet the goal?
- A. Yes
- B. No Correct
Explanation
The solution does not meet the goal. Setting the fiscal year status to permanently closed to Yes makes the periods impossible to reopen, so adjusting entries can no longer be posted to the previous year's period 13. The other settings are consistent with the requirements, but this one setting breaks the first requirement.
