Reopening a Closed Fiscal Year

Business Central/NAV User Forum
1

Hi everybody,

One of our clients has closed by mistake the current fiscal year(01-Jan 14 till 31-Dec 14).

Is there any possibility to reopen it ?If not, may they still post till the end of december 14?

Are there any restrictions or so ?

Thanks!

2

Standard system doesn’t allow you to reopen a closed period and you can’t either post any transactions, that’s the difference between open and closed periods.

I am not sure how to re-open the period. Probably you can take developer help to change the status of period to open again. This needs to be tested thoroughly.

Pranav…

3

This is true, but “closing” accounting period has almost no consequences, as the following:

is NOT true - you can post everything you wish at any date, be it even 10 years ago. The only way to prevent user from posting earlier than some date is either by setting from-to dates in GL Setup (affects all users) or in User Setup at individual user level.

4

Hi Uaja, Modris,

My bad. I wrote suggestion as per AX, didn’t noticed it’s in NAV forum.

Thanks,

Pranav

5

Thanks a lot for your replies!

The Posting dates are configured at G/L Setup:from 01/01/14 to 31/12/14, so there should be no problem with the closed period[:)]

Regards,

Uaja

6

If you post into at closed fiscal year, all G/L Entries will be marked as a “Prior-Year Entry” (there is a field by that name, default not shown on any form/page)

And that is it.
No other consequence in standard NAV.