Starting date of the Fiscal Year

Business Central/NAV User Forum
1

Hi everybody,

Due to some complications in implementing NAV, it was not possible to have the opening balances on 31/12/15(the previous year had transactions posted till 31/12/15).So, we registered the opening balances on 01/01/16. and 2016 transactions are posted from 02/01/16.

Are there any implications that I should be aware of?

Should there be any additional setup to prevent any possible problem?

Thank you,

Uaja

2

Hi Uaja,
As long as we are only talking about actual balance accounts, then you should be fine.

Did you also migrate open balance per individual customer and vendor on this date?

3

Hi Erik,
Thank u for your reply!

Yes, we have migrated the opening balances of vendors on 01/01/2016.
The problem might arise when running FOREX. Starting date should be 02/01/16 in order to prevent adjustments of the opening balances…

thanks a lot!