Learn how to properly configure fiscal year settings in Microsoft Dynamics 365 Business Central to ensure accurate financial reporting. Discover the correct steps for defining fiscal year dates and avoid common mistakes.
Table of Contents
Question
Your company needs to ensure that financial reporting reflects the correct fiscal year.
You need to set up the fiscal year settings correctly in Business Central.
What should you do?
A. Configure the Accounting Periods on the General Ledger Setup page
B. Adjust the Company Information page with fiscal year dates
C. Set the fiscal year dates on the User Setup page for each user
D. Modify the Date Formula on the Fiscal Year Closure page
Answer
A. Configure the Accounting Periods on the General Ledger Setup page
Explanation
The Accounting Periods on the General Ledger Setup page is where you define the start and end dates of the fiscal year, ensuring that financial reporting is accurate. The Company Information page contains general company details but does not control fiscal year settings. Setting fiscal year dates on the User Setup page for each user is not relevant to defining the fiscal year for the company. The Date Formula on the Fiscal Year Closure page is used for closing entries and does not set the fiscal year dates.
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