Month-End Routines

Run Adjust Cost Batch Routine

The Adjust Cost Batch Routine maintains accurate costing information in GoldFinch with rules that vary depending on each item’s selected cost method.

Before proceeding with other month-end routines, confirm that the Adjust Cost Batch Routine has run successfully. If it hasn’t, you will need to run it manually.

For more detailed information, refer to Daily Adjust Cost Routine

Review Inventory to GL Report

Review GF1003 Inventory to GL Reconciliation Report (As Of Date) to ensure the following:

• All posted Warehouse Shipments have been invoiced.

• All posted Warehouse Receipts have been invoiced, provided Vendor Invoices have been received.

• All Work Orders with complete output and consumption are finished, and all associated outside service Purchase Invoices have been posted.

• The Invoiced Cost total on the Inventory to GL Reconciliation matches the Inventory Accounts.

• Post any additional accrual GL Entries to Inventory Manual GL Accounts to ensure that the total inventory valuation is accurately reflected in the GL.

Review AR Aging Report

Review Customer AR Aging Report to ensure the following:

• All customer invoices and payments have been posted.

• Invoices and payments are correctly applied.

• The total on the AR Aging Report matches the balance of the Accounts Receivable GL Account.

Review AP Aging Report

Review Vendor AP Aging Report to ensure the following:

• All vendor invoices and payments have been posted.

• Invoices and payments are correctly applied.

• The total on the AP Aging Report matches the balance of the Accounts Payable GL Account.