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Many organizations’ fiscal year-end doesn’t match up with the calendar year-end. In fact, June 30 is a pretty common fiscal year-end. So if you’re in this boat, here’s your closing procedures refresher for Business Central/NAV, plus a handful of useful resources to get you started on your close.
Are there any changes for closing mid-year?
In Business Central/NAV, there are no special changes to the closing procedures when you close during the calendar year (instead of at the end of the calendar year). Just proceed as normal!
Watch our last webinar for year-end closing
Here’s our latest webinar on closing as well, where our CEO and CPA Janelle Riley walks you through the steps for closing BC and addresses Frequently Asked Questions we receive from our clients every year. (This webinar is for 2022 year-end close, but the procedures are the same.) Watch the webinar on YouTube→
Access our Year-End Documentation
Though Business Central has a pretty slick closing process, it’s only done once a year and it’s easy to forget something! So we’ve created a step-by-step PDF guide for closing procedures within BC/NAV, and we update it every year. We’re happy to share it with you.
Do I need to back up Business Central before closing?
Organizations using Business Central Online (or SaaS) already benefit from regular backups of their data, so if you’re using BC SaaS, you don’t have to make a special back-up for your fiscal year-end close. You can if you want to, though. If you choose to make a back-up, we recommend going through your closing procedures before your normal business day begins—this will ensure that no one else is in the system yet.
Syvantis can also make additional back-ups for you. If this is something you’d like, get in touch with us in advance of your year-end.
Schedule a closing call with a consultant
If closing is too time consuming, causes you stress, or you just want to make sure you do it right, we can assist. We often walk our clients, step-by-step, through year-end procedures—and we’re happy to do this for you!
