6/13/2021 Preparing and Running Inventory Closing in Microsoft Dynamics AX 2012 R3 | Ellipse Solutions

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Preparing and Running

Inventory Closing in
Microsoft Dynamics AX 2012
R3
April 22, 2015

The inventory close process for Microsoft Dynamics AX 2012 (AX 2012) is run periodically for all
inventory valuation methods (I.e. FIFO, FEFO, Weight average, LIFO) except standard.  The
inventory close process settles issue transaction to the appropriate receipt transactions based on
the inventory value method selected for the item.  Until inventory close or inventory recalculation
is run AX 2012 is posting inventory transactions with a running average cost price.

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To prepare
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& Cookies run the Inventory close process complete the following steps:
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1. Navigate to Inventory management > Periodic > Closing and adjustment. Click Close procedure
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button, then select 1. Check open quantities. A report will print with a list of inventory
transactions that will remain open after the inventory close is performed.

2. Click Close procedure button again and select 2. Check cost prices.

3. Enter the Expected close date, whether or not to ignore production order, maximum
percentage deviation, type of basic cost price, and minimum deviation if applicable. Report will
print with any items with price deviations. Fix any issue then proceed to next step to close
inventory.

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4. Click ‘Close procedure’ button and select 3. Close.

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5. Specify date to Close inventory up to, select Specification, and if you want to run a recalculation
after close select the ‘Run recalculation after closing’ indicator.

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