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George Moroses
/ Categories: Infor LX & BPCS Tips, Finance

Infor LX & BPCS Finance Tip: 3-Way Match - A validation step when paying vendor invoices in ACP500

The validation compares the order quantity and price from the purchase order, the quantity received from the ITH record, and the quantity and price on the vendor invoice. The PO, the receipt, and the invoice are the three “legs” of a 3-way match. If all three match, you have a valid invoice transaction. If the price you are about to pay does not match the price agreed on the purchase order, or if the quantity you’re about to pay for does not match what you ordered or received, the ACP500 user will want to review the discrepancy before paying the invoice. There can be legitimate reasons for a discrepancy, such as needing to prepay an invoice for an item to be received in the future. The 3-Way Match process lets the user take those extra validation steps before making the payment.

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Tips:  LX | BPCS | M3

Job costing based on standards is great, but what if reality doesn’t match up to that?

What if jobs are really taking twice as long, and you don’t know that? What if jobs are taking ½ as long as you think, but you’re scheduling based on how much time they “should” take? Either way, you’re losing money and productivity. Getting a handle on start/stop times for jobs, and therefore the total amount of time actually spent allows you to take proper action and be more productive.

  

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The Facility Period Close process was introduced in Infor LX 8.3.4 and has been enhanced in 8.3.5. This feature allows continuous or 24-hour worldwide operations in multiple facilities to submit Period End Close jobs for each facility as daily operations cease, or shifts end.

This enhancement provides a batch mode for the Facility Period Close (INV930) process and allows the Update IIM Inventory from IWI (INV931) process to be submitted from the INV930B program. The enhancement also provides a batch mode for the INV931 process.

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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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