D365 BC

Introduction to Finance in Business Central: Closing Process

The goal of this on-demand training workshop is to introduce you to the Closing process in Microsoft Dynamics 365 Business Central (NAV) and provide best practices for this important feature. We will walk you through the processes for your month-end close, and then we will discuss how to close your fiscal year.

For month-end closing, you will learn:

- Best practices for Month-End Close
- How to Update Posting Date Ranges
- How to Close Inventory Periods
- How to Reconcile Accounts Receivable
- How to Reconcile Accounts Payable
- How to Reconcile Inventory

Then, for year-end closing, you will learn:

- Best Practices for Year-End Close
- How to Create a New Fiscal Year
- How to Close Income Statements
- How to Prepare for an Audit

Student Access: To promote learning progression, students are given 30 days to complete this course. If more time is needed at the end of 30 days, simply reach out to us and we can extend your learning period.

Hours of recorded course content: 1:36
Expected hours to complete course: 2:00
Course Level: Basic
Prerequisites: None
Delivery Method: QAS Self Study/Online eLearning
Course Administrative Policies: https://skillup.dynamicsuser.net/about-us

  • Course Overview
  • Course Outline (00:41)
  • Month-End Closing Processes
  • Updating Posting Date Ranges (07:19)
  • An Important Note About Your Chart of Accounts and Posting Groups (04:02)
  • Reconciling Accounts Payable Part 1 (04:27)
  • Reconciling Accounts Payable Part 2 (08:12)
  • Reconciling Accounts Payable Part 3 (07:48)
  • Reconciling Accounts Receivable (05:37)
  • Inventory Reconciliation Part 1 (04:11)
  • Inventory Reconciliation Part 2 (08:30)
  • Month End Wrap-Up (01:15)
  • Bonus - One More Thought on Month-End Close (00:58)
  • Year-End Closing Processes
  • How Year-End is different than Month-End (00:50)
  • Creating & Closing Fiscal Years (03:21)
  • Important Note: You Can Still Post a Transaction After Closing (05:42)
  • Closing Income Statement Part 1 (05:42)
  • Closing Income Statement Part 2 (09:59)
  • Closing Income Statement Part 3 (07:35)
  • Wrap Up
  • Questions about the Closing Process (04:29)
  • Keeping Auditors Happy (03:58)
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: Forever