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Infor LX & BPCS Tip of the Week: Year End
George Moroses
/ Categories: Infor ERP Tips, Infor LX & BPCS Tips, Manufacturing, Operations

Infor LX & BPCS 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.
  • Make sure to close out all purchase contracts and PO’s before year-end. Make sure no receipts are allowed against any of the contract line items after year-end.
  • 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.
  • Determine what new standard costs should be entered for the upcoming year.
  • Discuss cutoff dates for removing Archived BOMS and Closed/Canceled Mfg Orders
  • Run PRF900 to update performance measurements and purge closed shop orders

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Tips:  LX | BPCS | M3

In the ever-evolving landscape of manufacturing, cyber threats have become a formidable challenge, with a notable spike in ransomware attacks catching many off guard. These sophisticated attacks deploy tactics that are often new and bewildering to manufacturers, pushing the boundaries of what we thought we knew about cybersecurity in the industry. Let's dive into how these advanced threats are reshaping our approach to digital defense in manufacturing.

https://www.industryweek.com/technology-and-iiot/cybersecurity/article/21284176/a-new-wave-of-cyber-attacks-five-actions-to-take-now

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Get updates on product bulletins, alerts, and announcements regarding the Infor LX product line and related products and technologies such as Infor OS, System i Workspace Anywhere, WebTop, IDF, Operating Systems, and Java support as it relates to Infor LX, please follow this knowledge base article: KB 1397381.

This was updated as recently as February 23, 2024!

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

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

Steps to Process Electronic Bank Statements:

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