How to Perform Year-End Close in Business Central

Dynamics 365 Business Central

Set general ledger posting from and to dates monthly
User Setup should only include accounting personnel and be set to the smallest amount of months possible
For creating a new fiscal year in Business Central, search for Accounting Periods, create a new year, adjust No. of Periods and Period Length if needed, and close the year
To close an income statement, ensure balance sheet accounts are marked as balance sheet and income statement accounts are set to income statement, run close income statement, and verify retained earnings balance
All entries posted from the Close Income Statement process are marked with a Cdate
To make new entries in the old year, adjust User Setup for posting, post the entry, reset User Setup dates, close income statement, post the journal, and verify retained earnings balance.

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