Minimum Version Required: 23.01
Steps
Invoice Close:
Producers | Distributors | |
Participation Adjustment Load Sheets are created | X | X |
Invoice Trans and AR Receipts Journal Entries are verified | X | |
Laid-in-cost, extended price, wholesale units per case and discount are set on Invoice Trans | X | |
Historical Backorders are removed | X | X |
Sales Rep Historical is set | X | X |
Load Sheets are Verified | X | X |
On Hand remaining and FIFO layers are updated based on inventory depletion | X | X |
Inventory Daily records are created | X | X |
Accounts Receivable Close:
Producers | Distributors | |
Asset, Income, AR Account, Expense, and Bank Account maps are verified and set | X | X |
Invoice Payments are moved to Invoice Payments Hist | X | X |
Deposits and Deposit Journal Entries are Verified | X | X |
Invoice Trans and AR Receipts Journal Entries are created and verified | X | |
Open Debit and Open Credit is set on invoices | X | X |
Automated Statements Start and End Date are set | X | X |
Accounts Payable Close:
Producers | Distributors | Financials Only | |
Check Runs are Verified | X | ||
Production Cost Confirmation is prompted / Production Orders are verified | X | ||
Purchases are Verified | X | X | |
Month-End Inventory Accrual Journal Entries are created (end of the month) | X | X | X |
Fixed Asset Depreciation Journal Entries are created (first of the month) | X | X | X |
Company AP Close date is updated | X | X | X |
Financial Close:
Producers | Distributors | Financials Only | |
Verify the following Journal Entries: Manual, Recurring, Depreciation, Bank Reconciliation, Imported, Sub-Ledger Reconciliation, Retained Earnings | X | ||
Bank Reconciliation is Verified | X | ||
Retained Earnings Journal Entries are created (first day of Fiscal Year) | X | ||
Third-party general ledger export documents are created | X | X |