Inventory closing is required to be carried out in order to settle the issue transactions with receipt transactions. Usually Inventory closing is done monthly but based on the volume of transactions this may vary.
There are few steps which you would require to carry out before the inventory closing job but here my focus is only about “Close Inventory” function Fallback Main Account rule.
Let’s say we have carried out the required steps and now we have to perform the “Close Inventory”.
If you encountered with below shown issue and the message “To prevent Inconvenience in the period end process where inventory close is an important step, a rule has been implemented in the inventory closing job which validates if a fallback main account is setup in posting profiles ……”
This notifies that you must have a posting rule for Item Code , All for the posting types “Inventory expenditure, profit” and “Inventory expenditure, loss“.
In this scenario what happens is that Inventory closing job checks if a fallback main account is setup in posting profiles. Even though you have setup for each Item group this doesn’t help and will not check and loop all item groups and verifies if all of them have the posting rule defined.
Therefore, you would need to make sure that under posting Item Code “All” contains with “Main Account” for both “Inventory expenditure, loss” and “Inventory expenditure, profit”.
As highlighted below in the image this setup is key if this is not in the setup you would face the error message shown earlier during Inventory close.
After the above setup if you run the “Close Inventory” function you would not see any the previous issue.
Hope this tip might help during your day to day D365 FinOps journey.
Will be back with another post soon …..