How to open a new fiscal year in Dynamics 365 Business Central

Microsoft Dynamics 365 Business Central. How to open a new fiscal year. In Business Central, we use accounting periods to define fiscal years. In this video we’ll open a new fiscal year and define the accounting periods that we’ll use for our financial statements. There are two ways to create accounting periods. One is to create a batch job to create accounting periods that are of the same length of time. We can also manually create the periods and define custom lengths of time for each period. Let’s explore the process. To open a new fiscal year, we’ll search for “Accounting Periods”, and then choose the Accounting Periods link. The list page shows all open and closed accounting periods. To let Business Central create accounting periods for us, we’ll choose Process, and then Create Year. On the Create Fiscal Year page we’ll enter the starting date of the new fiscal year, the number of periods to include and the length of each period. We’ll choose OK to create the new fiscal year. If we want to manually create an accounting period, we’ll search for Accounting Periods, and then choose the Accounting Periods link. On the Accounting Periods page we’ll choose New to create a new line in the list. In the Starting Date field we’ll enter the date on which we want to start our new fiscal year. The Name field will automatically show the name of the month. Because this is the first period of the fiscal year, we’ll choose the New Fiscal Year checkbox. To create the rest of the periods for the fiscal year, we’ll just repeat these steps. Thanks for watching.

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