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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

Role-Based Security introduces Role type profiles and allows combining the use of Role profiles with the traditional LX User type security profile functionality. The new Role type profile can be defined to allow or deny access to All Products, Attention Key, Products, Programs, and Transaction Effects. Facility, Warehouse, and Company securities are still defined solely by the User profile settings and are not affected by the assignment of a Role. Where applicable, the Role authority is displayed alongside the User authority on the security profile maintenance screens making it easy to see where there are differences in authority between the User and the assigned Roles. 

When Users are assigned to Roles, security access in LX becomes a combination of authorities granted or denied by the Role, plus any User Exceptions. User Exceptions override authorities set by the Roles. A User can also be assigned to more than one Role.

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Tips: LN | Baan

Congratulations! You bought that shiny, new car! It has all the features you can possibly want and goes a million miles an hour. It can take you anywhere your heart desires…….but you rely on a manual scooter to get you around. You know, the kind you had when you were a kid…BEFORE you could drive…before you could afford the BMW. Make sense? Uh... no.

You’d never do this, right? So, why are you doing this with the ERP system that runs your business? Why are you relying on spreadsheets and separate little Access databases to record and store the information that is the most critical to your business when you have an ERP system that is meant for this? Why continue to plod along at a snail's pace when you have the tools to take your business to the next level?

Your ERP system is your BMW. Use it. See what it can do for you. Think you’ve used it to its potential? Unlikely. We’ve helped customers breathe new life into their EXISTING ERP version all by unlocking functionality for them that was already there and ready to use! We’ve also helped by offering add-ons to the ERP that can make your productivity skyrocket.

Ask us how. We’ve got an extra set of keys to the BMW in case you lost yours.

Optimize Your Manufacturing Today!

  1. Identify the key metrics. You need benchmark data so you know what realistic goals are, then track them and publish your performance along with a brief comment from time to time on how things are trending and how you compare with others, particularly your primary competitors. The best thing about this is that it is a system that develops a life of its own.
     
  2. Measure it. Automatically, people start to think about improving things. Then the fun part, stuff begins to improve by itself. Once in place, the system just hums along and the benefits appear, because it has motivated people to think about it, and figure out what they can do to make it better.
     
  3. Communicate it. Publish your numbers, and explain to people how what they do affects the company as a whole and its success/failure. Once they see the numbers, employees quite often start to modify their behavior for the better.

Optimize Your Manufacturing Today!

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