FAQs»Month End/Year End»Inventory - Late Fiscal Year C…
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Last modified on 10/5/2015 7:56 PM by User.

Inventory - Late Fiscal Year Closing

If the normal Inventory End-of-the-Year procedures weren’t completed or forgotten, it is usually found because the inventory figures (for sales, dollars, etc) in the Inventory module are incorrect…..combining the current year with the prior year.   To re-set the figures, do the following:

 

Step 1.

Go to:

  • Inventory Control (Module 5)
    • Special I/C Processing (Task 25)
      • Reset Warehouse MTD/YTD Figures from O/E and P/O (Sub-task 16)

Select YTD only, using the prior year dates (note…if your company is on a fiscal year and you want the figures to reflect your fiscal year, use the prior fiscal year dates, not calendar year)

 

Step 2.

Perform the same process as in Step 1 again, but select MTD only and use prior month dates.

 

Step 3.

Go to:

  • Inventory Control (Module 5)
    • System Management System (Task 32)
      • Clear Warehouse MTD/YTD Fields (Sub-task 1)

Answer the prompts:

Do you wish to clear MTD fields?:                    Y

Do you wish to clear YTD fields?:                     Y

Do you wish to clear SALES info?:                   Y

Do you wish to clear PURCHASE info?:           Y

If you say NO to both Sales and Purchasing, nothing will clear.

 

Step 4.

Go to:

  • Inventory Control (Module 5)
    • Special I/C Processing (Task 25)
      • Reset Warehouse MTD/YTD Figures from O/E and P/O (Sub-task 16)

Select YTD only, using current calendar or fiscal year dates.

 

Step 5.

Perform the same process as in Step 4 again, but select MTD only and use current month dates