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

Year end for a system owner and a Finance department is always full of preparations. Therefore, we have created a quick check list of 5 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 then after closing the year. Happy year end! 

1. Open next year by activating all periods and make sure the system calendar and the system periods exist as far as your bookkeeping requires. This is an important procedure to be able to start your new fiscal year, while still in your current, so you won’t end up with errors of transactions without dates.

2. To be able to create transactions in the new fiscal year, you need to define a journal number series and invoice number series. This is a system requirement to be able to sort order the transactions chronologically.

3. Check the vouchers number series and other necessary number series such as customer orders and purchase orders to ensure you don’t run out of those in the middle of the holiday season.

4. When the system calendar is set up to run transactions for the next fiscal year, you should check the records for multiple time zones, if applicable. This is needed to synchronize with planning tools and resource planning throughout the year.

5. Lastly, for those of you who create the budget within M3, you need to update the Column Templates for the Balance files to be able to run the budget.

Good luck and see you in the next year.

Get in touch with me

Topics

Discuss this post

Recommended posts

In this blog post I describe how to get your item names in the language connected to the user when using custom lists in Infor M3.
Many companies mistakenly believe that disruption is about being on the cutting edge of technology. However, disruption is about ambitions and the power of action.
If you are running Infor OS/H5 you have the possibility to create really nice homepages for your users. The homepages are the starting points for all roles, and one of the widgets you probably want to have on your homepage is the menu-widget. On the menu widget you can add links to M3 programs for example, but by using bookmarks you can make the links smart, and let them open the programs with predefined selections and searches.
In this blog post I'm describing how to create bookmarks in M3. Since we are moving towards Infor OS and H5, we need to handle that there are some differences in how you manage bookmarks in the different user interfaces for M3.
In Infor M3 13.4 there is a new possibility, you can build your own list program. This blog post will show you how to do that.
right-arrow share search phone phone-filled menu filter envelope envelope-filled close checkmark caret-down arrow-up arrow-right arrow-left arrow-down