Opening transactions (form)

Article
10/09/2018

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Click General ledger > Periodic > Fiscal year close > Opening transactions.

Use this form to generate closing entries in the previous fiscal year and create opening balance transactions in the new fiscal year.

Opening balances will not always be zero. For assets, the balance will include the value of all machinery, equipment, and inventory that is available, and also any cash that has been invested as working capital. For liabilities, the balance will include any current bank or stockholder loans, in addition to lease payments or trade credit that you may have secured in order to start the company.

The General ledger parameter settings are displayed in the General ledger parameters section, but can be changed only in the General ledger parameters form.

Note

You can transfer opening transactions as often as you have to until the fiscal year is closed.

Task that uses this form

Transfer opening balances to a new fiscal year

Navigating the form

The following tables provide descriptions for the controls in this form.

Tabs

Tab	Description
General	Enter information that will be used to transfer opening transactions to a new fiscal year.
Financial dimensions	Select the default financial dimension values for the financial dimensions that are displayed.
Batch	Set up batch processing. For information, see Submit a batch processing job from a form.

Button

Button	Description
OK	Transfer opening transactions to a new fiscal year and close the form.

Fields

Field	Description
Delete close-of-year transactions during transfer	If this check box is selected, the Delete close-of-year transactions during transfer check box is selected in the General ledger parameters form.
Create closing transactions during transfer	If this check box is selected, the Create closing transactions during transfer check box is selected in the General ledger parameters form.
Set fiscal year status to closed	If this check box is selected, the Set fiscal year status to closed check box is selected in the General ledger parameters form.
Fiscal calendar	Select the fiscal calendar for the fiscal year to close. Note This control is available only if the Public Sector configuration key is selected.
Fiscal year	Select the fiscal year to close. Note This control is available only if the Public Sector configuration key is selected.
(Closing) Balances through fiscal period	Select the period for which balances will be used to create closing entries. Note This control is available only if the Public Sector configuration key is selected.
Post to fiscal period	Select the period to process the closing transactions to. The period must be open. Note This control is available only if the Public Sector configuration key is selected.
End date	Enter the closing date in the previous fiscal year. Note If the Public sector configuration key is selected, you can enter different end dates in the Balances through fiscal period and Post to fiscal period fields.
Period name	The period name for the specified end date. You can modify this field only if there are multiple closing periods for the date that is entered in the fiscal calendar. For example, your organization defined two closing periods with the same dates: one for regular closing postings and one for auditor closing postings. In this form, after you enter an end date, you specify which of the two closing periods to post to, because the end date fits in both.
Transaction date	The posting date when the legal entity gains knowledge of the transaction. Note (ITA) This control is available only to legal entities whose primary address is in Italy, and if the Transaction date reference to competence date field is selected in the General ledger parameters form.
(Opening) Balances through fiscal period	Select the period for which balances will be used to set opening balances for real accounts. Real accounts have balances that are carried forward from the end of one fiscal year into the start of the next fiscal year. Note This control is available only if the Public Sector configuration key is selected.
Balance accounts	Select the method to transfer amounts: Reset – Reset the balance accounts and manually enter the opening balances for the balance accounts. Closing->Opening – Continue with the balance accounts and create the opening transactions.
Main account for transfer of year-end result	The main account that the yearly profit and loss activity net amount will be posted to. This field is automatically updated with information from the Accounts for automatic transactions form, it but can be edited.
Voucher number	The voucher number that is allocated to the opening transactions. This is required if the Voucher number must be filled in check box is selected in the General ledger parameters form.
Use account for transfer of year-end result	Select this check box to transfer the year-end result to the account that is specified in the Main account for transfer of year-end result field in the Opening transactions form. Note (ESP) This control is available only to legal entities whose primary address is in Spain.
Select funds	Select this check box to enter a single fund or range of funds. To select all funds, clear this check box. Note This control is available only if the Public Sector configuration key is selected.
From fund	Select the first fund in the range of funds. To select only one fund, select the same value in the From fund and To fund fields. Note This control is available only if the Public Sector configuration key is selected.
To fund	Select the last fund in the range of funds. To select only one fund, select the same value in the From fund and To fund fields. Note This control is available only if the Public Sector configuration key is selected.
Preview transactions	Select this check box to view transactions before posting. Note This control is available only if the Public Sector configuration key is selected.
Print created transactions	Select this check box to print a list of the opening transactions that are created.
Transfer financial dimensions	Select this check box to include financial dimensions in the opening transactions that are generated for the balance sheet accounts.
Profit and loss transactions	Select the default financial dimension values for each financial dimension.
Close all	Select the check box for a financial dimension to transfer the profit and loss transactions to the financial dimension, based on what was posted in each transaction.