Management Reporter, included with Microsoft Dynamics AX, provides predefined Balance sheet, Income statement, and Cash flow report templates based on main account category. The statement of owner’s equity is not predefined but can be created in Management Reporter. The predefined financial statements can be modified to meet additional formatting requirements described in IAS 1.

In Microsoft Dynamics AX, the fiscal calendar supports any definition of the periods. When financial statements are generated in Management Reporter, the definitions of fiscal periods and years from the fiscal calendar are used.

The year-end closing transactions must be generated, and then the period can be closed for all modules.

Microsoft Dynamics AX provides the capability to control whether the period is in Open, On-hold, or Closed state. A period in the On-hold state can be reopened. Microsoft Dynamics AX enables transactions to be recorded in any period in the Open state.
Microsoft Dynamics AX also provides the capability to restrict posting for a period to a specific user or group of users. These parameters can be used to control adjusting entries posted to the general ledger.

Microsoft Dynamics AX enables dimensions to be used to cross over all general ledger accounts. Therefore, aggregation or dis-aggregation can be used to separate or detail out required data for nature or function, as needed.

Management Reporter can filter on any combination of dimensions at the row, column, and tree level, and also its support of total accounts.