Preparing for Year-End In Microsoft Dynamics NAV

As the stewards of our organizations' financial systems, this is the time to make preparation for our next fiscal year within Microsoft Dynamics NAV!

Most people run their fiscal year based on a calendar year, making this the perfect time to ensure that your Microsoft Dynamics NAV environment is finely-tuned and humming along as we start 2016. There are a number of things to do to ensure you start the year on the right foot.

First, now is the perfect time to make sure that inventory periods have been successfully closed at least through the first three quarters of the year. I list the first because inventory adjustments often have the largest impact on an organization's financial position. Closing the inventory periods in Microsoft Dynamics NAV ensures that all negative inventory situations have been addressed and at the same time ensures that all inventory values and costs have been fully adjusted. If these haven't been closed in a while, it may take some time to address these situations that prevent the periods from being closed, and by doing this task now, these adjustments can be made in the current fiscal year, providing a clean inventory valuation as of year-end.

Continue reading the rest of the article, which begins on page 42, in the NAVUG Magazine by clicking here.