MEM Close Income Statement

Use this page to close financial periods. For more information, see the Microsoft Dynamics 365 Business Central documentation.

• Close Income Statement Accounts

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 Process > Close Income Statement.

Or select Search and search for Close Income Statement.

2. In the Close Income Statement dialog, select one or more Journal Source Entity, and specify 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.

3. Open the General Journals page and select the same entity that you selected to close the income statement.

The list is updated with the general journals that were created for closing the income statement.

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: 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.