I have seen various discussions about the correct way to process the financial month end and year end but I am interested to know if it has to be done out of hours before the next period begins?
At the moment our accountant insists it can only be done this way so works at 11PM to do Month End / Year end. To date, this has been of little concern as I just figured it’s up to him, he is not complaining and it is of little consequence if that is what he wants to do.
This time, he had an IT issue at 11PM and was trying to get it resolved by trying to contact the IT team (we don’t do 24 x 7 support) so now it has become an issue for a wider audience.
So is it absolutely necessary to do this out of hours? If not what processes / do you do so you can close your month / year the next working day?
It’s best to do it off hours before transactions happen for the next period. What our accounting team has done is set up a process set that runs at 11:50 p.m. to do the WIP Capture, print Stock Status reports and post the WIP transactions. Your accountant should be able to set up a process set to do this. You may want to have a system user account and set it up with that ID so that if the accountant leaves, the Month End process will still run. Good Luck!
We have scheduled reports to run at midnight (stock, GRNI, GDNI, etc) along with the COS/WIP process. Then, a function that changes the EAD for all modules so we make sure nobody can post in the old period. The next morning Accounts can do the rest. After this, we found out there is no need for them to log in at midnight.
This is interesting, I will look into this. I think there is a trust issue here to get past as well, we will need to build confidence that nothing can go wrong. But I figured that out of all the companies using EPCIOR across the globe I am sure that there are not 1000’s of accountant burning the midnight oil to do the month end
