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Kathy Barthelt
/ Categories: Infor LN & Baan Tips

Baan/LN Tip of the Week: Closed, Final Closed, Provisional Close – What’s The Difference?

Fiscal, Reporting and Tax Periods can have status Open, Closed or Final Closed. If a period is Closed or Final Closed, you cannot post entries to those periods. If a period is Closed, you can re-set it to Open and post entries. If a period is Final Closed, you cannot post and you cannot set it back to Closed or Open.

A Provisional Close is run at year-end to bring the balances forward for the new year without having to close the previous year. A Provisional Close can be run as many times as you like. After a Final Close, a Provisional Close cannot be run.

The Provisional Close allows you to continue into the new year with all financial reporting and not have to rush with the Final Close until all adjusting entries are made and any final signoffs have been completed.

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Kathy Barthelt

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Tips:  LX | BPCS | M3

This enhancement provides the ability to enable setting facility-specific bill of material BOD's accounting entity from the facility's stocking warehouse's company. The bill of material BOD can be consistent with the bill of resources BOD which sets its accounting entity from the company associated with the facility's stocking warehouse.

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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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