George Moroses / Tuesday, December 15, 2020 / Categories: Infor ERP Tips, Infor LX & BPCS Tips, Finance Infor LX & BPCS Tip of the Week: Year-End for Finance Year-End is always a busy time! So busy that it's easy to forget things that must be done in your ERP system to close out the year properly and set you up for a good start to the following year. Here are some things to add to your to-do checklist. The year-end close process provides an opportunity to: Remove discontinued items. Remove sold purchase receipts. Remove lot attributes for sold lots. Update standard cost based on current cost field. (for environments without Manufacturing only) Prepare for Year-End Close Conduct full physical inventory and update quantities before actual year-end or establish a strong cycle-counting program. Make sure to close out all purchase contracts and PO’s before year-end. Make sure no receipts are allowed against any of the contract line items after year-end. 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. Determine what new standard costs should be entered for the upcoming year. Discuss cutoff dates for removing Archived BOMS and Closed/Canceled Mfg Orders Run PRF900 to update performance measurements and purge closed shop orders Finance Specific Items: Set up the financial periods for 2021. Open period January in 2021. Finalize any outstanding transactions from the current year (2020). Remember to run ACP920 (1099 Report) before running ACP910 (Year End Close), as the Close Program clears the 1099 Payments History. Issue any old sales invoices. Fix any outstanding financial integration errors. Set up new integration mapping for 2021 as needed. Test the mapping in a test environment prior to the new year. Review & update jobs as needed to ensure they will process in 2021. Determine for cash-flow purposes, what purchase invoices won’t be paid until 2021. Previous Article Infor LX & BPCS Tip of the Week: Year End Next Article Infor LN & Baan Tip of the Week: Year End Print 31159 Rate this article: 5.0 George MorosesGeorge Moroses Other posts by George Moroses Contact author Facebook page Twitter Linked In YouTube Website
10Jun2025 Infor LX/BPCS Tips for EXECUTIVES Tuesday, June 10, 2025 Read more FINANCE: Override Warning in Invoice Entry PO Costing OPERATIONS: Auto Calculate Vendor Delivery Date TECHNOLOGY: User Provisioning Read more
10Jun2025 Infor LX/BPCS Tips & Tricks for FINANCE: Override Warning in Invoice Entry PO Costing Tuesday, June 10, 2025 Read more Improves control over PO costing changes during invoice entry by replacing passive warnings with an intentional override action. In ACP500D3 (Invoice Entry PO Costing), users previously could unintentionally accept changes by pressing ENTER, even when quantity to cost or amount to cost values had changed. A new “F14 to Override” warning message replaces the old message: “Details have changed. Press enter again to accept data.” This ensures users acknowledge and confirm significant changes explicitly. New System Parameter: “Apply GRN Costing Tolerance for PO Costing” (optional): Within tolerance: Displays the original message — “Details have changed. Press enter again to accept data.” Outside tolerance: Triggers the new override requirement — “F14 to Override” Benefits: Enhances oversight and reduces unintentional cost acceptance. Enables better control of PO costs when invoice details differ from expectations. Read more
10Jun2025 Infor LN & Baan Tips & Tricks for EXECUTIVES Tuesday, June 10, 2025 Read more FINANCE: Rebuild History for Account Matching (tfgld1218m000) OPERATIONS: Copy Customized Product Structure to Standard Structure (tipcs2232m000) TECHNOLOGY: Authorization and Security: LN REST APIs Read more