In this article
MEM Close Income Statement
Use this page to close financial periods. For more information, see the Microsoft Dynamics 365 Business Central documentation.
Close an Income Statement Account
To close an income statement account at the end of a fiscal year, follow this general workflow.
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Open the Chart of Accounts list and select Home > Close Income Statement.
Or select Search
and search for Close Income Statement.Note: Both options that appear from the Search (MEM Close Income Statement or Close Income Statement) will lead to MEM Close Income Statement.
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In the Close Income Statement dialog, specify the Entity and other values as needed.
Note: The value for Dimensions will always have a default global dimension selected. You can select other dimensions in addition to the default global dimension, but you cannot clear the default value. -
Make sure the selected Gen. Journal Batch contains transactions with the Entity selected in the Entity filter.
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Process the transactions.
MEM Year End By Entity Functionality
The Fiscal Year End Date By Entity option allows users to close income statements with entities filtered by the Company Filter option even for entities that have different fiscal year end dates. Otherwise, the closing process will only process entities with the same Fiscal Year End Date specified in the Fiscal Year Ending Date option, which will only be available if the entity accounting period has been set up for one or more entities.
Note: MEM Accounting Period by Entity is a read-only field that indicates the entity’s Accounting Periods is enabled for the entity.
Fields
This page contains the following fields for MEM Year End By Entity functionality only:
| Field | Description |
| Fiscal Year Ending Date |
Displays the Fiscal Year Ending Date of each entity of the income statement to be closed. This field will be populated automatically according to each entity in the “Company Filter” option. Note: Entities will be shown based on the user's access privileges specified in MEM User Security. |
Example
| Entity | Fiscal Year Start Date | Fiscal Year End Date | Is Entity Accounting Period |
|---|---|---|---|
| 000 | 1/1/2025 | 12/31/2025 | Yes |
| 100 | 4/1/2025 | 3/31/2026 | Yes |
| 200 | 6/1/2025 | 5/31/2026 | Yes |
| 300 | 4/1/2025 | 3/31/2026 | Yes |
| 999 | 4/1/2025 | 3/31/2026 | No |
If the Fiscal Year Ending Date by Entity option is disabled, users can only close the Income Statement for entities where the fiscal year ending date matches the Fiscal Year Ending Date specified in this window. Entities that have set up Accounting Period by Entity will still be processed, as long as their fiscal year ending date matches the selected date.
As shown in the result table below, all entities with the same fiscal year ending date will be processed. Entities with a different fiscal year ending date will not be processed.
The table below shows different cases and the expected results if more than one entity is entered in the Entity Filter, an the Fiscal Year Ending Date by Entity option is disabled.
| Case | Company Filter in the window | Fiscal Year Ending Date | Result |
|---|---|---|---|
| 1 | (Empty) | 12/31/2025 | Income Statement will only be closed for entity 000. |
| 2 | 100..999 | 12/31/2025 | No Income Statement will be closed. |
Fields
This page contains the following fields:
| Field | Description |
| Journal Entity Filter |
Specify the entities for the periods that you want to close. When this box is empty, all entities are processed. |
| Dimensions |
Select the dimensions that you want.
|
