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(ITA) Create fiscal LIFO journals

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Important

This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

You calculate fiscal LIFO from the fiscal LIFO journals. Before you create the fiscal LIFO journals, you must set up journal names for each journal type. This means that you must create a journal name for both the internal fiscal LIFO journal and the annual municipal fiscal LIFO journal.

Create journal names for fiscal LIFO journals

  1. Click Inventory management > Setup > Journals > Journal names, Fiscal LIFO.

  2. Press CTRL+N to create a new journal name.

  3. In the Name field, enter a journal name.

  4. In the Journal type field, select one of the following options:

    • Final – Create a journal name for an annual municipal report.

    • Internal – Create a journal name for an internal report.

  5. Close the form to save your changes.

Create fiscal LIFO journals

  1. Click Inventory management > Journals > Fiscal LIFO > Fiscal lifo internal.

    –or–

    Click Inventory management > Journals > Fiscal LIFO > Fiscal LIFO annual municipal report.

  2. Press CTRL+N to create a new journal line.

  3. Select a journal name, and enter other relevant information.

  4. Close the form to save your changes.

See also

(ITA) About fiscal LIFO workflow