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.
Perform the annual run for the fixed asset ledger and order costings.
Complete the annual run for the accounts receivables and accounts payables.
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.