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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.

  1. 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.

  2. In the Close Income Statement dialog, specify the Entity and other values as needed.
    Note icon. 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.

  3. Make sure the selected Gen. Journal Batch contains transactions with the Entity selected in the Entity filter.

  4. Process the transactions.

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.

Note icon. Note: The default global dimension will always be selected. You can select other dimensions in addition to the default global dimension, but you cannot clear the value. The default value is specified on the Multi-Entity Management Setup.