Re-open closed accounting periods in NAV 5.01

Hello Folks,

Is there a way to re-open closed accounting periods in NAV 5.01.
Thank you. endnavuser

Not without customization.

thank you.

Why does it have to be reopened? See below…you can still post.

Once you have closed the year

  • The ‘Year’ cannot be opened again
  • The periods in the closed year cannot be changed
  • You can post closing entries (using the close income statement batch job). The closing entries in Navision clears all Income Statement accounts posting the balancing entry to Retained Earnings.
  • You can post Prior-year entries in the closed year. A prior-year entry is any adjusting entry that is posted after the year has been closed.

1.2 Post any Adjusting Entries

You can post an entry to a closed year. Any entry posted to a closed accounting period will be marked with a Prior-Year entry flag – therefore they can be easily traced using filters.

1.3 Close the Income Statement

After closing the fiscal year and posting any prior year entries the income statements should be closed and net income transferred to a retained earnings account.

Navision has a batch job that creates a journal to post these closing entries.

Select General Ledger, Periodic Activities, Fiscal Year, Close Income Statement. Specify the journal batch that you wish the entries to be transferred to and click OK.

Then go to the journal and review the entries before posting.

NB: SHOULD YOU POST PRIOR YEAR ENTRIES AFTER CLOSING THE INCOME STATEMENT YOU CAN RUN IT AGAIN.