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Kathy Barthelt
/ Categories: Infor LN & Baan Tips

Baan/LN Tip of the Week: Financial Year End – Have you done all you need to do?

Came across an article online from Lauber CFO’s, and thought I would share. Here is a checklist for things to consider in order to finish out the year and help you plan for 2016:

  • Is your accounting records up to date so that you can make a projection of how the current year will turn out?
  • Are all account reconciliations currently up to date to facilitate the closing of the books after year-end?
  • Are there accounts receivable that should be reserved for or written off prior to the end of the year?
  • If your business carries inventory, do you need to plan a physical count as of the end of the year?
  • Has depreciation on your fixed assets been recorded during the year? Have you considered depreciation on current year additions?
  • Have all new asset purchases and bank loans been recorded on your books?
  • Are there any liabilities, for example, pending legal actions or warranty issues, which will need to be recorded prior to the year-end? 
  • Do you have a plan in place to properly “cut-off” revenue at year-end to properly match revenue and expense?
  • Will there be bonuses, profit sharing contributions, or discretionary retirement plan contributions paid prior to the end of the year? How will these payments affect cash flow?
  • Will you be in compliance with your bank covenants at year-end?
  • Do you need to make arrangements to receive statements as of the end of the year for the cash value of life insurance, loan balances, etc.?
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Kathy Barthelt

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Tips:  LX | BPCS | M3

FINANCE: Prevent Voiding of Selected Invoices
This enhancement prevents users from voiding invoices after they have been selected for payment. If a user selects an invoice for payment and another user voids the invoice during the payment process, it can produce erroneous and duplicate records. The ACP500 programs were modified to check the status of an invoice before it can be voided. If the invoice has been selected for payment, a message is generated, and the invoice cannot be voided.

OPERATIONS: Copy Shop Order
In the Shop Order Selection program, action 3=Copy is available. This action allows copying any shop order except for flow orders or campaign orders. Instead of copying from the parent item's bill of material and routing, the new shop order’s materials and operations will be copied from the selected shop order. Note that if the existing shop order is linked to a customer order or line, this linkage will not be copied to the new shop order.

TECHNOLOGY: Group Security for ILM501 Inbound Delivery Maintenance
Add function key / action code security to control who is authorized to create/revise/delete functions in ILM501 Inbound Delivery Maintenance.  With added Group Security, managers can control which users are authorized to create, change and delete deliveries in ILM501 Inbound Delivery Maintenance.

This enhancement prevents users from voiding invoices after they have been selected for payment. If a user selects an invoice for payment and another user voids the invoice during the payment process, it can produce erroneous and duplicate records. The ACP500 programs were modified to check the status of an invoice before it can be voided. If the invoice has been selected for payment, a message is generated, and the invoice cannot be voided.

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Tips: LN | Baan

Instead of sharing tables through logical linking, you can replicate table content between companies. This approach allows certain non-key attributes of a record to vary by company. For example, if you replicate bills of materials rather than sharing them, each company can associate a different warehouse with the same bill of material. This way, the bills of materials are consistent across companies, while the warehouses can differ.

Replication also enables selective availability of records in other companies. For instance, when replicating items, you might limit which items are available in a sales company based on their item group, only including end items. You can further refine replication to specific subsets, such as particular item groups.

Keep in mind that replication requires any referenced tables to be either replicated or shared as well.

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