Hold on Receiving during month end - Vantage 8

(Ned Cleary) #1

There is currently a process where accounting puts the recieving department on hold to not transact the recieving of any product or supplies for 2-4 days when processing month end. This seems off to me, is there an actual need to do this? Aren’t all transactions date/time stamped making this unnecessary? or for some reason is it taking accounting way too long to get their stuff done?

(Joe Rojas) #2

Hey Ned.

Have the explained why they need to restrict receipts? I cannot recall if the “Earliest Apply Date” feature is in V8. If it is not, they may be worried about transaction hitting the prior period before they finalize the numbers.

I remember my first company in V8 had a similar process to give them to reconcile the GL but this typically one required a day.

Joe Rojas

Epicor Application Manager


+1.508.597.1392 **Phone
**+1.774.826.9245 Mobile

(Charlie Smith) #3

No earliest apply date, but if inventory is not turned on, they can hold the invoices. If it is turned on, the transaction dates should be sufficient.

Charlie Smith

(Calvin Krusen) #4

We ran into problems with people back dating records into the month accounting is trying to close. Entering receipts that were missed at the end of the month, that were entered during the new month, but with last month’s date (receipt happened on 6/29, entered on 7/2 with a 6/29 receipt date).

Our current accountant closes the fiscal period first thing on the first of the month. Only opening it to do any journal entries. If a transaction with a tran date of last month needs to occur, accounting needs to know - as it would change their closing numbers.

One concern would be that the capture COS process can move trans that are in the closed period to the currently open one.

Edit: To answer your original question… Yes, receipts are “date stamped”. But the date used for GL transactions is the “Received Date” entered during PO receipt.

Entering a Receipt on 7/1 with a rcv’d date of 7/1 will cause no issues with Junes books.
Entering a Receipt on 7/1 with a rcv’d date of 6/29 would cause issues with Junes books