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.

To prepare to run the Inventory close process complete the following steps:

1. Navigate to Inventory management > Periodic > Closing and adjustment. Click Close procedure 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.

close procedure check cost prices dynamics ax

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.

check cost prices dynamics ax

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

close procedure dynamics ax

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.

close inventory up to specification dynamics ax

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