Month End Close [8.03.40x]

Yahoo Archive
1
Doug, this is where running the WIP Reconcilliation report on a consistent basis is critical to your whole capture COGS and should be run not only weekly (at least) but at month end to make sure you are picking up any unposted transactions. As to posting for out of date transactions, you can run the Capture COGs without posting to determine if there are any transactions from previous periods. You can do job adjustments for the previous periods to fix the transactions (depending on the transaction type). Some people pull those transactions into the current period and then do journals to post them to the proper period
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Here is a copy of the month end closing cheklist for Vantage. If you want to discuss in more detail offline I would be glad to help


________________________________
From: Doug Oswald <dougo@...>
To:
Sent: Tuesday, November 6, 2012 8:57 AM
Subject: [Vantage] Month End Close [8.03.40x]

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I am writing this email on behalf of our finance department. We have been Vantage users since 1997 and obviously know how to close a month in Vantage, but we are looking to improve the process.

I have searched this topic in the archives and found many checklists which I found quite helpful. I looked in the files section for SOPs or how-to guides without success. I contacted Epicor Documentation and they directed me to the application help.

So I ask this list's accounting and finance members to help out an IT guy.

Here's why we are asking:

1. We have been struggling getting the user population to transact all activities in "real time."

a. Let's say that 95% of the transactions are entered in the system the day they occur.

b. Let's also say that 99% are entered no later than the morning after the day they occurred.

c. So we are concerned with that 1% that have a problem and are not entered promptly.

2. How do you handle similar transactions at your company?

a. Do you use any sort of BPM to prevent entry into the current month until they complete the previous month? (This is more of a clean up the past before moving forward idea)

b. Do you allow cleanup in the previous month and entry in current month?

3. What is your current closing process? Do you have a checklist? Will you share with the group?

Many thanks in advance,

Doug

Doug Oswald

Manager of Information Systems and Facilities

FLEETWOOD

www.fleetwoodfixtures.com<http://www.fleetwoodfixtures.com/>

Visit for an introduction to our extraordinary global capabilities

Corporate Office

Service Locations

225 Peach Street Leesport Pennsylvania 19533

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It may contain privileged and confidential information. If you are not the intended recipient, you should not copy,
distribute or take any action on it. Please return any such mail to the originator.

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[Non-text portions of this message have been removed]
2
I am writing this email on behalf of our finance department. We have been Vantage users since 1997 and obviously know how to close a month in Vantage, but we are looking to improve the process.

I have searched this topic in the archives and found many checklists which I found quite helpful. I looked in the files section for SOPs or how-to guides without success. I contacted Epicor Documentation and they directed me to the application help.

So I ask this list's accounting and finance members to help out an IT guy.

Here's why we are asking:

1. We have been struggling getting the user population to transact all activities in "real time."

a. Let's say that 95% of the transactions are entered in the system the day they occur.

b. Let's also say that 99% are entered no later than the morning after the day they occurred.

c. So we are concerned with that 1% that have a problem and are not entered promptly.

2. How do you handle similar transactions at your company?

a. Do you use any sort of BPM to prevent entry into the current month until they complete the previous month? (This is more of a clean up the past before moving forward idea)

b. Do you allow cleanup in the previous month and entry in current month?

3. What is your current closing process? Do you have a checklist? Will you share with the group?

Many thanks in advance,

Doug

Doug Oswald

Manager of Information Systems and Facilities

FLEETWOOD

www.fleetwoodfixtures.com<http://www.fleetwoodfixtures.com>

Visit for an introduction to our extraordinary global capabilities

Corporate Office

Service Locations

225 Peach Street Leesport Pennsylvania 19533

USA - California * Illinois * New York * Pennsylvania

P. 610 916 9999 F. 610 916 9900

International - China * India

Green Plus Certified<http://gogreenplus.org> * 2012 Green Plus Medium-Sized Business of the Year!<http://gogreenplus.org/latest-news/gp-staff-news/2012-green-plus-sustainable-enterprise-winners-recognized/>
We Reclaim, Recycle and Respect the Environment

This transmission is confidential and intended solely for the use of the person or organization to whom it is addressed.
It may contain privileged and confidential information. If you are not the intended recipient, you should not copy,
distribute or take any action on it. Please return any such mail to the originator.


[Non-text portions of this message have been removed]