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Dynamics NAV Year-End
Processing
Bobby Haggard

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Agenda
• Pre-Close
• General Ledger Year-
End
• Payroll Year-End
• Accounts Payable
Year-End
• Questions

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Pre-Close
• Make sure all invoices, batches, fixed
assets etc. are posted
• Review account types
• Print/save normal month end reports as
a snapshot
• Take a back-up of the database
• Run through the close in a test company

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General Ledger
• Closing Posting
– No Sub Ledger closing required (Except Inv.)
– Inventory Considerations (Inventory Periods)
• Creating Accounting Periods
– Always create the new one before closing old one
• Closing Accounting Periods
• Cashflow and Cost Management
• Consolidations

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General Ledger
• Closing Steps
– Update posting dates to prevent additional
posting to those periods
– Create new fiscal year
– Execute year-end closing
• Close fiscal year (Accounting Periods)
• Close Income Statement – Which generates year-end
closing entry
• Review & post year-end closing entry

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Update posting dates

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Update posting dates

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Create New Fiscal Year

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Close Income Statement
• You are required to supply a Journal
Template and Batch. We suggest
setting one up specifically for year-end
close.
• Document No. and Retained Earnings
account are also required. This is
where the net equity is posted to the
balance sheet.
• Business Unit Code is selected if you are
using them as part of consolidations.
• Closing by dimension will post equity by
the specified dimension value.

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Payroll
• Tax Table Updates
• Year-End Steps prior to W-2s
• Generating W-2s
– Only done through Greenshades now
– Be sure your Greenshades account is current
• Other forms
• Magnetic Media

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Payroll cont.
• Employee Setup
– The Social Security Number is critical
• Making Adjustments

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Accounts Payable
• Year-End Steps prior to 1099s
• Printing 1099s
• Magnetic Media
• What if the data is wrong?
• Can I reprint 1099s?
• Why aren’t they printing for these vendors?

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Accounts Payable
• Get the vendor setup properly BEFORE the first
payment
• Be sure to use the correct 1099 code (do NOT use
MISC alone – it needs a two digit number after it –
MISC-07 is the common one)
• Multiple 1099 types for the same vendor are not
easy to handle – best practice is to setup a
separate vendor card for each 1099 type
• Making Adjustments (VLEs are editable)

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Questions

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Thank You
Bobby Haggard
859.252.6225 x1011
bhaggard@trinsoft.com