<img src="https://secure.leadforensics.com/133892.png" alt="" style="display:none;">

In my first two blog posts, I gave tips on what you need to consider before and during the year end. Below, you will find the third and last part of the blog series "Preparations for year end in Infor M3" – after closing. Happy reading!

1. Record the yearly profit

Determine and record the profit for the year in the income statement and balance sheet. System wise, this can be done in a special program.

2. Perform

Perform the annual run for the fixed asset ledger and order costings.

3. Complete

Complete the annual run for the accounts receivables and accounts payables.

4. Run

Finally, run the final annual run on the general ledger. Now you are done with the previous year, time to get started with the new year. Good luck!

Want to know more?

Download our checklist that covers all preparations before, during and after closure.

Download now

Get in touch with me

Topics

Discuss this post

Recommended posts

In the last blog, I wrote a checklist of what preparations you need to do before closing your fiscal year. Below is part two of three in the blog series "Preparations for year end in Infor M3" - during the actual closing period. Enjoy!
The year-end for a system owner and a finance department is always full of preparations. Therefore, we have created a quick check list of five steps with important things to prepare for the new fiscal year. In the two following blogs, I will take you through the checklists of what to do during and after closing the year. Happy year end! 
Having been involved with ERP over a number of years from a customer perspective, I’ve seen how the right ERP solution can help transform the way a business performs and brings all the relevant data and processes together under ‘one roof’. 
Microsoft’s ever-popular Dynamics 365 (D365) platform brings ERP, CRM and BI (Enterprise Resource Planning, Customer Relationship Management and Business Intelligence, respectively) into one system. This means your people, processes and systems can be unified, giving you the visibility you need to drive your business forward.
ERP implementations (or any kind of system implementations for that matter) are tricky, time-consuming projects that require a lot of highly skilled manpower. That’s the main reason why business leaders, like yourself, may be wondering whether you should outsource your implementation project. Here are four signs to suggest you should work with an ERP implementation partner.
right-arrow share search phone phone-filled menu filter envelope envelope-filled close checkmark caret-down arrow-up arrow-right arrow-left arrow-down