Month End- Checks & Validations Pt. 2

In the previous blog we looked at 4 ways to validate the posting of invoices as part of the month end closing process. X3 will not allow a period to be closed if there are non-validated invoices or unposted journal entries so today we’ll look at 4 ways to ensure all entries have been posted.

1. Payments and Receipts
   • This function posts payments on invoices from sales & purchases
     1. Navigate to A/P-A/R accounting > Payments > Bank posting (REMBAN)
     2. Ensure all check boxes are marked
     3. Click OK
   • 
2. Recurring Entries
   • Use this function to generate accounting entries relating to one or more defined recurring entry tasks
     1. Navigate to Financials > Current processes > Recurring entries > Recurring entries (VALABT)
     2. Ensure all check boxes are marked
     3. Generation Type should be marked as ‘Actual’
     4. Entry status should be ‘Temporary’
     5. Click OK
   • 
3. Journals Created in Batch
   • Use this function to preform a mass validation of accounting batch tasks. Validated batches are then posted.
     1. Navigate to Financials > Current processes > Batches (CPTLOT)
     2. Ensure all check boxes are marked
     3. Generation Type should be marked as ‘Actual’
     4. Entry status should be ‘Temporary’
     5. Click OK
   • 
4. Completed and Closed Work Orders
   • This function is usually set up as a recurring task. It calculates the cost variance and creates cost variance record, the adjustment and WIP balance.
     1. Navigate to Costing > Production costs > WIP finalization (FUNWIPMFC)
     2. Ensure that ‘Cost Calculation’ is check
     3. Define a site
     4. Variance source should be ‘Standard’
   • 

Next time we’ll discuss 4 more checks you can do to ensure entries are posted. Stay tuned!