I have seen the Opening entries posted in the cronus database as C31-12-09 . Can I know what is the reason behind this to post the opening entreis like this. The same way when I try to post I am getting the following error.
Microsoft Dynamics NAV Classic
Posting Date can only be a closing date for G/L entries in Gen. Journal Line Journal Template Name=‘CASHRCPT’,Journal Batch Name=‘BANK’,Line No.=‘10000’.
Please let me know the Use of the Posting as C31-12-09 and why I am not able to post.
Why is it a problem that opening entries are posted on C31-12-09?
Actually in my opinion it’s more correct to do it, since the opening entries must be posted on a date prior to the first fiscal year You use NAV, but not directly relates to the last fiscal year, since it’s not posted in NAV.
Remember opening entries are only posted first time you start using NAV as ERP.
I see it as somewhat the same as “Close Income Statement”, which also are posted on a C-date.
The reason for the error when You try to post, i think, comes because You use a CRONUS-license.
(I don’t get the same error when trying to post in a CRONUS-company, but i used my dev-license for the test)
Thanks for the Help, I do not have any problem. Iam also try to post the Opening entreis like that only as in the Cronus database. But I am not able to post the transactions with adding the C to the posting date. I am also using the Dev- license only.
The reason that closing dates only relates to G/L entries, is that it has no use in other types of entries.
C31-12-2010 is a fictional date that lies between 31-12-2010 and 01-01-2011.
Lets say your fiscal year ends 31-12-2010, then C31-12-2010 is the date used for posting the entries that close the Income Statement.
This way when you draw a balance as per 31-12-2010, it still shows the figures related to fiscal year 2010, and when you draw a balance as per 01-01-2011, all figures are cleared (Income Statement only [;)]).
In order to be able to achieve this, the closing entries has to be posted on C31-12-2010.
For the same reason closing dates are not applyable to Customer-entries etc.
When posting opening entries to a company with fiscal year 01-01 - 31-12, it’s irrelevant whether you use 31-12 or C31-12, the date used just has to be before the 1. day of the 1. fiscal year in the new company.
Someone might argue that you should use 31-12, others might argue to use C31-12.
Personally i always use 31-12.