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.

George MorosesGeorge Moroses

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