Inventory Control Month-End Processing
Confirm the Processing Date is set for the month you are closing.
Month-end date: __________________________
Transaction cut-off date: ____________________
Responsible person: _______________________
Date reconciled: __________________________
Confirm the Processing Date is set for the closing month.
Confirm the following daily processes are completed:
- PO Pack List and Invoice Receiving for the month is complete.
- Inventory Update – Confirm all Inventory transactions have been updated to both Inventory and General Ledger.
Print and Retain Reports
- Items on Hand Valuation – This is a date sensitive report and should be run monthly.
- Items Activity Report – This report should be run at the end of the year before clearing the Year-to-date totals per the process below.
Clear Month to Date
- Period End Clear resets month-to-date and year-to-date
totals in the page. Note: At the end of the year, do a Year-to-date clear which will also clear out the month-to-date totals. – Check the Month-to-date selection under Period Type. The
Change Processing Dates
- Change the processing dates to reflect the new period using Processing Date.