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MEM Close Income Statement
Use this page to close income statement accounts at fiscal year end. MEM extends the standard Business Central Close Income Statement process by allowing income statements to be closed by entity, including scenarios where entities have different fiscal year-end dates.
For more information, see the Microsoft Dynamics 365 Business Central documentation.
Before You Begin
Verify the following:
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The fiscal year and accounting periods have been configured correctly.
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Entity accounting periods have been created for any entities that use entity-specific fiscal calendars.
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You have access to the entities being processed.
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The selected journal batch is configured appropriately for year-end processing.
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, either leave the entity filter empty to run all entities at once, or choose a specific entity filter for which to run the process.
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. -
Ensure the selected Gen. Journal Batch contains transactions with the entity selected in the Entity filter. If the batch does not contain transactions for the selected entities, the closing process may not create the expected entries.
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Review the settings and run the Close Income Statement process to create the year-end closing entries.
MEM Year End By Entity Functionality
The MEM Year End Date By Entity option allows you to close income statements for entities that have different fiscal year-end dates.
When this option is enabled, MEM evaluates each entity based on its own fiscal year-end date and processes eligible entities individually. This allows organizations with different fiscal calendars across entities to perform year-end closing without requiring all entities to share the same fiscal year-ending date.
When this option is disabled, the system only processes entities whose fiscal year-end date matches the Fiscal Year Ending Date specified in the Close Income Statement window. Entities with a different fiscal year-end date are skipped.
Note: MEM Accounting Period by Entity is a read-only field that indicates whether Entity Accounting Periods are 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 used when processing each entity. When Fiscal Year End Date By Entity is enabled, MEM automatically determines the applicable fiscal year-end date for each entity included in the Company Filter. Note: Entities are shown based on the user's access privileges specified in MEM User Security. |
Example
Assume the following entities are configured with different fiscal year-end dates:
| Entity | Fiscal Year End Date | Entity Accounting Period is Enabled |
|---|---|---|
| 000 | 12/31/2025 | Yes |
| 100 | 3/31/2026 | Yes |
| 200 | 5/31/2026 | Yes |
| 300 | 3/31/2026 | Yes |
| 999 | 3/31/2026 | No |
When Fiscal Year End Date By Entity is Disabled
The system only processes entities whose fiscal year-end date matches the Fiscal Year Ending Date entered in the Close Income Statement window.
For example:
| Company Filter | Fiscal Year Ending Date | Result |
|---|---|---|
| (Empty) | 12/31/2025 | Only Entity 000 is processed because it is the only entity with a matching fiscal year-end date. |
| 100..999 | 12/31/2025 | No entities are processed because none of the selected entities have a December 31, 2025 fiscal year-end date. |
In this example, entities 100, 200, 300, and 999 are skipped because their fiscal year-end dates do not match the date specified in the Close Income Statement window.
When Fiscal Year End Date By Entity is Enabled
The system evaluates each entity using its own fiscal year-end date instead of requiring all selected entities to share the same fiscal year-end date.
For example:
| Company Filter | Fiscal Year Ending Date | Result |
|---|---|---|
| (Empty) | 12/31/2025 | Entity 000 is processed using December 31, 2025. Entity 100 and Entity 300 are processed using March 31, 2026. Entity 200 is processed using May 31, 2026. Entity 999 is processed using March 31, 2026. |
| 100..999 | 12/31/2025 | Entity 100, Entity 200, and Entity 300 are processed using their respective fiscal year-end dates. Entity 999 is processed using its respective fiscal year-end date. |
This allows organizations with different fiscal calendars across entities to close income statements for multiple entities in a single process.
Note: When Fiscal Year End Date By Entity is enabled, MEM determines the applicable fiscal year-ending date for each entity automatically. The Fiscal Year Ending Date entered in the window is not used to determine which entities are processed.
Fields
This page contains the following fields:
