Demo 1 - Month end close

  1. Browse to the Microsoft 365 for Finance and Operations home page.
    To create a new financial period close in Microsoft Dynamics 365 for Finance and Operations, such as a month-end close, first navigate to the General ledger module.

  2. In the top-right company picker, verify the legal entity you are connecting to is USMF. If it’s not, change the legal entity to USMF.

  3. In the navigation pane, select Modules.

  4. In the Module submenu, select General ledger.

  5. In the Period close section, select Financial period close configuration.
    On the Closing schedules page of our example, you can see there is already a new schedule that was created for an earlier closing period. To create a new schedule, select New and then provide additional information.

  6. In the menu of the Closing schedules page, select New.
    Next, add a name and description for the closing schedule.

  7. In the Closing schedule box, in the Create closing schedule drop-down menu, enter a name. For example, Feb 2021.

  8. In the Description box, enter a brief description. For example, Period close Feb 2021.
    Add the start and end dates for the period as well.

  9. In the Period start date box, enter the start date. For example, 1/16/2021.

  10. In the Period end date box, enter the end date. For example, 2/15/2021.
    Using the Templates menu, select from previously created templates.

  11. Select the Template box.

  12. In the Template drop-down menu, select the template you would like to use. For example, Month end.
    Use the calendar menu to choose from the available calendars.

  13. Select the Calendar box.

  14. In the Calendar drop-down menu, select the calendar you would like to use. For example, 5 day.
    You’ll next need to select the companies or legal entities that will be associated with this schedule. You can select each company individually or use the check mark in the column header to select them all.

  15. Select the Company box.

  16. In the top-left of the Company drop-down menu, select the check mark to select all companies.

  17. Select Create.
    We’ve now created a month-end closing schedule. In this example, many elements of the schedule have already been created by the group responsible for administering the finance system. The Month end template, for example, already reflects the different task areas.

  18. On the Financial period close configuration page, select the Templates tab.

  19. On the Templates page, in the table, point to the Area column to display the accounts receivable and accounts payable.

  20. Point to the Task column to display descriptions of tasks.

  21. Point to the Due date relative to period end date (+ / - days) column to display due dates.

  22. Point to the Closing role column to display the closing role assignments.

  23. Point to the Company column to display related companies.

  24. On the left side of the page, select the Calendars tab to see where a working calendar has been created.

  25. On the Calendars tab, select Edit.
    This calendar has been set up so that each weekday is considered a workday and each weekend day is not.

  26. Select Cancel.

  27. On the Financial period close configuration page, select the Task areas tab.
    Here, the high-level task areas have been defined. In this case, these areas do not involve security roles.

  28. Select the Resources tab.

  29. On the resources page you can view individual employees and their assigned closing roles.

  30. On the Resources page, in the Closing roles section, point to the Closing role column.

  31. On the left side of the Resources page, select employee names to see their roles. For example, Arnie Mondloch and June Low.
    Each employee can be assigned to closing roles. Closing roles are defined on the Closing roles tab. These are not security roles, but instead help to define an organization’s closing processes.

  32. On the left side of the page, select the Closing roles tab.

  33. In the table, point to the Closing role column.