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Closing the Fiscal Year

When closing the fiscal year, you post the Income Statement Accounts to Retained Earnings. For financial reports to work correctly, the NAV Dimensions should be closed with the posting to Retained Earnings. In the Close Income Statement function, you select Close by Dimensions.

A common problem are blocked Dimensions or Dimension Combinations. You have set up Projects as a Dimension, and you closed Projects during the year. To make sure NAV users do not accidentally post to closed Projects, you block the Dimension Value for a closed Project. 

 

When you now run the Close Income Statement, and you close it by the Project Dimension, the closing function must post G/L balances also by the Dimension Value of the closed Project. Because the Dimension Value is blocked, the Close Income Statement function stops with a Dimension error.

 

Solution

 

CapGemini of Italy offers a NAV add-on called Financial Suite. The Financial Suite changes the Close Income Statement, adding a check mark No Dimension Check.

When you set the No Dimension Check, the Close Income Statment function posts G/L balances to Retained Earnings, even for blocked Dimension Values.

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