In my first two blog posts, I gave tips on what you need to consider before and during the year end. Below, you’ll find the third and last part of the blog series Preparations for year end in Infor M3 – after closing. Happy reading!
1. 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 the annual running for Fixed Asset Ledger and order costings.
3. Complete the annual running for the Accounts Receivables and Accounts Payables.
4. Finally, run the final annual run in the general ledger.
Now you're done with the old year, time to get started with the new year.