Month-End Routines
Post Open Transactions
Invoice all posted Whse Shipments.
Invoice all posted Whse. Receipts if Vendor Invoices are received.
Finish all Work Orders that have all Output, Consumption, and Outside Service Invoices posted.
Run Adjust Cost Batch Routine
The Adjust Cost Batch Routine maintains accurate costing information in GoldFinch. The rules for costing vary depending on the Costing Method selected for each Item.
Ensure that the Adjust Cost Batch Routine has run successfully before proceeding with the other month-end routines. If not, you will need to run the routine manually.
Read the Daily Adjust Cost Routine for more information.
Update Allowed Posting Date Ranges
To simplify Month-End routines, GoldFinch allows you to “soft close” a month. You just need to adjust Allow Posting From and Allow Posting To dates in the Company Setup and User Setup at the end of the month to prevent users from posting in the wrong month. You can run the following reports as of any historical date to assist Month-End closing:
Accounts Receivable
Accounts Payable
Inventory Valuation
Financial Statements
Company Setup
Update the Allow Posting From and Allow Posting To dates in the Company Setup. Allow Posting From should be the first date of the current open accounting period.
This company-wide setting will not allow users to post transactions with a posting date outside this date range, and all new cost adjustment entries for the closed periods will be posted using the Allow Posting From date to ensure the financial statements for the closed periods are not changed.
User Setup
There are times when some accounting users may need the ability to post entries outside the date range specified in the Company Setup. For these situations, individual user date range settings can be specified which will override the setting in the Company Setup.
