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George Moroses
/ Categories: Infor LX & BPCS Tips

Infor LX & BPCS Year-End Close Checklist

As the year draws to a close, the hustle and bustle of year-end activities can sometimes lead to overlooking critical tasks within your Infor ERP system. Ensuring a proper year-end close is essential for setting the stage for success in the coming year. Here is a comprehensive checklist to guide you through the process:

Year-End Close Process Objectives:

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

Preparing for Year-End Close:

  • Conduct a full physical inventory and update quantities before the actual year-end or establish a robust cycle-counting program.
  • Close out all purchase contracts and PO’s, ensuring no receipts are allowed against any contract line items.
  • 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.
  • Decide on new standard costs for the upcoming year (Manufacturing).
  • Discuss cutoff dates for removing Archived BOMS and Closed/Canceled Mfg Orders (Manufacturing).
  • Run PRF900 to update performance measurements and purge closed shop orders.

Finance Specific Items:

  • Set up financial periods for 2024 before the new year begins.
  • Open the January period in 2024.
  • Finalize any outstanding transactions from the current year (2023).
  • Copy the CEA Book for the new year, ensuring all Journal Sources are set up. Copying ensures that every needed record is in place.

General LX & BPCS Items:

  • Run ACP920 (1099 Report) before ACP910 (Year End Close), as the Close Program clears the 1099 Payments History.
  • Address any old sales invoices.
  • Rectify outstanding financial integration errors.
  • Set up new integration mapping for 2024 as needed.
  • Test the mapping in a test environment before the new year.
  • Review and update jobs as needed to ensure they will process in 2024.
  • Determine, for cash-flow purposes, which purchase invoices won't be paid until 2024.

For additional insights and details about each program's functionalities and the files they update during the LX and BPCS Period End and Fiscal Year-End Processing, please refer to the attached document: LX & BPCS Period End & Fiscal Year End Processing Document

If you require assistance, please don't hesitate to contact us. We are here to guide you through the process to ensure everything is completed correctly and comprehensively. Reach us at 1.800.762.2077 or solutions@crossroadsrmc.com.

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Tips:  LX | BPCS | M3

From John O'Kelly's article on Manufacturing.net:

"Regardless of industry, efficiency gains and increased speed provide a competitive edge. The ever-increasing competition in the manufacturing world makes it necessary to find new, efficient ways to speed up the process while remaining accurate and productive. While flying robots and miracle technologies may promise to reshape the industry, we still have a way to go until full automation, and thus the most important asset on the manufacturing floor in 2019 will remain its people.

In 2019, the focus will undoubtably be increasing efficiencies, and this can be achieved through investing in employees, equipping them with the proper techniques and tools. An invested labor force will limit mistakes on the manufacturing floor and improve throughput at every level of the process."

Here are a few best practices to increase efficiency on the manufacturing floor in 2019:

  1. Invest in your labor force
  2. Prioritize quality assurance
  3. Improve labeling errors

You can read the full article with detailed descriptions at: https://blog.safe.com/

Optimize Your Manufacturing Today!

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BPCS & LX Tip of the Week: Get Real!

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You’ve got an ERP system, so everything should be real-time and everyone should have access to information in real-time, right? RIGHT?!

Why not? Why are there spreadsheets, and separate Access databases off to the side?

Data loses value over time, so why not give everyone up to date, accurate information all the time? Take a look at those silos of information and see how you can eliminate them. Your business will benefit greatly as a result.

Optimize Your Manufacturing Today!

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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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