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 No.
- Set the Create closing transactions during transfer option to No.
- Set the Fiscal year status to permanently closed option to No.
✑ 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 No.
- 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 Delete existing year-end entries when re-closing the year to No means earlier opening and closing transactions remain and extra ones are added on each rerun, so more than the most recent closing entry stays in the transactions. Setting Create closing transactions during transfer to No also means no closing transactions are created, which the stated closing behaviour relies on.
