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Infor LN & Baan Tip of the Week: Year End
Kathy Barthelt

Infor LN & Baan Tip of the Week: Year End

Year-End is always a busy time!

So busy that it's easy to forget things that must be done in your ERP system to close out the year properly and set you up for a good start to the following year. Here are some things to add to your to-do checklist.

The year-end close process provides an opportunity to:

  • Remove discontinued items.
  • Remove sold purchase receipts.
  • Remove lot attributes for sold lots.
  • Update standard cost based on current cost field. (for environments without Manufacturing only)
     

Prepare for Year-End Close

  • Conduct full physical inventory and update quantities before actual year-end or establish a strong cycle-counting program.
  • Check for any applicable sales and purchase invoices/returns and post.
  • Prepare users for a year-end push to complete all year to date inventory adjustments, receipts, and invoicing.
  • Determine how to handle new year transactions without posting.
  • (Manufacturing)  Determine what new standard costs should be entered for the upcoming year.
  • (Manufacturing)  Discuss cutoff dates for removing Archived BOMS and Closed/Canceled Mfg Orders.

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Kathy Barthelt

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Tips:  LX | BPCS | M3

Infor LX remembers certain key values, such as item number, salesperson,

or container, in your workstation memory as you process information in certain

programs. You can assign one of the following values to each field:

 

0  -Infor LX automatically retrieves this value from remember key memory. Infor LX updates this value on a continual basis.

 

1  -Infor LX automatically retrieves the value you specify in Display Remembered Keys, SYS080. It does not update the value from any other program.

 

2  -Infor LX does not retrieve or update remembered key fields. Use the Display Remembered Keys program, SYS080, to set up remembered keys.

Two big sources of inefficiencies in manufacturing are paper and spreadsheets. I know that you love ‘em, but they are the cause of more problems than you probably realize. Think of how long it takes you to get paper based data into the hands of those who can do something valuable with the data. Are you capturing all of the information correctly? Timely? What about those spreadsheets? Can everyone access that information across your organization? Is that data married with all of the related data regarding your operations to give your executive and middle management the information they need when they need it?

Make your shop floor paperless and put in place systems that talk to one another and automatically pull and push data to and from your ERP so that you can look in one place for all the information you need to run your business effectively.

If you’re not doing this today, you might as well be burning money.

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Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

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