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Core Localization Pack for Czech - Business Central | Microsoft Learn
Dependencies and assumptions
The posting and reporting option depends on the period settings.
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Description of the documented area
Accounting periods
Accounting periods, which are also known as reporting periods, are periods for which a company or organization reports financial performance, such as by generating an income statement or balance sheet. Accounting periods typically refer to a company's fiscal year, which can contain several accounting periods, such as months or quarters.
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The Accounting Periods table can be accessed from the Manual Setup list, or from the General Ledger Setup table in the General tab, or by searching for the table using the magnifying glass.
Creating
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an accounting period
There are two ways to create a new posting period:
Manually, individually, using the "New" button in the toolbar. In a new row, the following fields are set:
Starting Date - the user enters the start date (first day) of the posting period.
Name - fills in the system automatically according to the specified start date.
New Fiscal Year - A flag that specifies that this period is the beginning of a new fiscal year.
Closed - a flag that can be used to close the accounting period. The system selects the check box automatically when you use the Close Year function to close the fiscal year.
Date Locked - flag that indicates that it is no longer possible to change the start date of the posting period. When the fiscal year is closed, the system automatically ticks the box.
Inventory Period Closed - If the user sets the flag, the inventory period with an end date equal to or later than the end date of the posting period has been closed.
Bulk by using the Create Fiscal Year batch job on the Process tab. Then the fields in the dialog box are filled in as follows:
Starting Date – The user enters the date when the fiscal year begins.
No. of Periods – The user enters the number of accounting periods into which the fiscal year should be divided.
Period Lenght – The user enters the duration for each period. For example, 1M (1M) for one month, 1K (1Q) for one quarter, and 1Y (1Y) for one year.
After entering all the data, the user chooses Ok.
Closing
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accounting periods
Accounting periods can be closed using the Close Year batch job on the Process tab.
Closing the fiscal year Year is one of the tasks for closing the ledger. When you close the fiscal year, check boxes are selected for all periods in the year Closed (Closed) and Date Closed (Date Locked). You can't reopen the year or clear the check boxes.
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Although the fiscal year is closed, you can still post general ledger entries to the fiscal year. When you do so, the entries are marked as posted to the closed fiscal year, and the check box is selected Previous Year Item (Prior-Year Entry). The next step is to close the income statement accounts and transfer the annual results to an account on the balance sheet. Repeat these steps each time you post entries to a closed fiscal year.
VAT
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Periods
The VAT reporting period and the company's accounting periods can often be different. To enable users to seamlessly report and account for VAT by VAT reporting period, as well as to issue internal and other statutory reporting based on accounting periods, this feature introduces VAT Periods.
Table VAT Period (VAT Periods) is available from the Manual Setup list or by searching for the table through the magnifying glass.
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Manually
using the New button, where after filling in the Starting Date, the Name is filled in automatically
Batch Job
Use the Create Periods VAT button to create the PDH VAT period after entering the data in the task dialog.
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