Microsoft Dynamics 365 Business Central Self-Help Place

Your financial year has ended. Now Business Central needs to zero the P&L accounts and move the year's profit into retained earnings. It takes three actions, and BC does the maths for you. One of them can't be undone , so do them in this order. Quick answer Accounting Periods : make sure next year exists, then choose Close Year . Search Close Income Statement : enter the year-end date, a journal batch and your retained earnings account, then OK . Open that journal batch, check the lines, and Post . Posted something into the old year later? Post it, then run Close Income Statement again. The whole flow at a glance Year-end close in Business Central ▼ 1. Make sure next year exists Accounting Periods → Create Year (if it isn't there yet) ▼ 2. Close Year Accounting Periods → Close Year (can't be undone) ▼ 3. Close Income Statement BC creates the closing lines in a journal ▼ 4. Review and post the journal P&L accounts zer...

Need your P&L split by department, side by side? You can build it once in Financial Reports (called Account Schedules in older versions) and run it every month. No Excel work, no developer. Quick answer: Create a financial report with a row definition that lists your P&L accounts and a column definition with one column per department. In each column, enter the department code in Department Code Totaling . The field is hidden by default, so add it with Personalize . Global dimensions only. This method works for Global Dimension 1 and 2. You can check yours in General Ledger Setup > Dimensions . Other dimensions need an analysis view, which this post doesn't cover. Step 1: Create the financial report Search for Financial Reports and choose New . Enter a Name and Description , for example PNL DEPT and PNL by Department (Dimension) . Select a Row Definition (for example, your Income Statement) and a Column Definition . To start a new one, create it f...

You post the electricity bill to one expense account. Then at month-end, you do a journal to move the cost to each department. Every month, the same thing. You can stop doing that. Business Central can split the cost for you when you post the purchase invoice , using an Allocation Account . Quick answer Set up an Allocation Account once, with your split (e.g. 50% / 20% / 30%) and the department for each share. On the purchase invoice line, choose it in the Allocation Account No. field. Post. BC splits the amount to each department automatically. No journal needed. Before and after Before: every month ▼ Post purchase invoice full amount to one account ▼ Create a journal reclass the cost to each department ▼ Cost split (and repeat next month) After: Allocation Account ▼ Post purchase invoice Allocation Account No. = UTILITIES ▼ Cost s...

Quick answer Business Central controls this on the G/L account , not on the dimension value. Use Dimensions-Multiple on the Chart of Accounts and set an Allowed Values Filter on the DEPARTMENT dimension. To keep MARKETING and SALES on Travel and Entertainment accounts only, you need two setups: one on the T&E accounts (allow only MARKETING and SALES) and one on every other account (block MARKETING and SALES). Got this error? "Dimension value DEPARTMENT, ADM is not allowed for G/L Account, 8430." The account has an Allowed Values Filter. Change the department on the line to one the account accepts, or ask your BC admin which departments are allowed. The example The finance team wants the MARKETING and SALES departments used only on Travel and Entertainment & PR expenses. Every other account should reject them. Why one setup is not enough The Allowed Values Filter sits on the account. It controls which departments that account accepts. It does not con...

A customer or vendor payment was posted wrongly in Business Central: wrong amount, wrong bank, posted twice, or it never happened at all. Now you need to undo it without messing up the vendor balance, the bank reconciliation, or a month that Finance has already closed. Quick answer Payment's month still open → Reverse Transaction from General Ledger Entries. BC reverses everything on the original date. (Method 1) Payment's month already closed → post a reversal journal dated in the current month, then apply it to the original payment. (Method 2) Either way: unapply the payment from its invoice first, and clear the two bank entries in your next bank reconciliation. First, do you really need to reverse? Reversing is for a payment that is wrong as a whole. Smaller mistakes have a cleaner fix: What's wrong Best fix Only the dimension (e.g. wrong department) Correct Dimensions on General Ledger Entries. Nothing is reversed. Wrong vendor or customer...