erp – Page 2 – Rebdev, LLC

Month End- Checks & Validations Pt. 1

With the start of a new month comes the dreaded month end, in which companies close the previous period’s financials. Month end is often stressful, but it need not be so – especially if fiscal periods are regularly closed in X3.

X3 will not allow a period to be closed if there are non-validated invoices or unposted journal entries. In this mini-series, we’ll go through some of the checks and validations you can do to ensure a smooth closing!

First we’ll take a look at 4 validations you can run in X3 to ensure all of your invoices have been validated.

Sale Invoice Validation
- Navigate to Sales > Invoices > Invoice/Credit Memo validation (FUNCFMINV)
- To validate invoices for all companies/ sites check the ‘All companies’ and ‘All sites’ boxes. You may specify if necessary
- Check the ‘All types’ box
- Click OK
BP Customer Invoice Validation
- Navigate to A/P-A/R accounting > Invoicing > Customer BP invoice posting (BPCVAL)
- To validate invoices for all companies/ site ensure the ‘All Companies’ check box is checked.
- To validate all types invoices, check the ‘All types’ check box. Otherwise uncheck this box and use the action card to choose an invoice type
- Click OK
Purchase Invoice Validation
- Navigate to Purchasing > Invoices > Invoice validation (FUNPIH)
- To validate invoices for all companies/ sites, ensure the ‘All Companies’ check box is checked
- To validate all types invoices, check the ‘All types’ check box. Otherwise uncheck this box and use the action card to choose an invoice type
- Click OK
BP Supplier Invoice Validation
- Navigate to A/P-A/R accounting > Invoicing > Supplier BP invoice posting (BPSVAL)
- To validate invoices for all companies/ sites, ensure the ‘All Companies’ check box is checked
- To validate all types invoices, check the ‘All types’ check box. Otherwise uncheck this box and use the action card to choose an invoice type
- Click OK

Next week we’ll go through checks you can do to ensure entries have been posted!

Month End- Checks & Validations Pt. 3

Today we’ll look at 3 more ways to verify that all entries have been posted.

Conversion Variance
- This function creates entries to offset variances due to exchange rates so that accounts will balance
  1. Navigate to Financials > Closing processes > Conversion variance (ACCCURCNV)
  2. Choose the Company group for which to preform the conversion
  3. Check ‘All Sites’
  4. Check ‘All Control Accounts’ or define the accounts
  5. Set the date range for the fiscal period
  6. Choose one BP or a range
  7. Ensure ‘Generate entries’ is marked, generation type is ‘Actual’ and Entry status is ‘Temporary’
  8. This function is most commonly run for BP type Customer and BP type Supplier
  9. Click OK
Stock Accounting Interface
- Use this function to create entries for stock movements/transactions and update values of stock. When sales deliveries, purchase receipts, stock movements and similar transactions are created, the GL is not updated until this function is run.
  1. Navigate to Stock > Periodic processing >Account Interface (FUNSTKACC)
  2. Selection Criteria should be set to ‘Allocation Date’
  3. Financial site can be left blank to run this for all companies
  4. Click OK
Stock Valuation Report
- Run this report to use a check to confirm stock values are what you are expecting
  1. Navigate to Stock > Periodic processing > Stock valuation report (FUNSTVA)
  2. Choose the Company to run the report for
  3. You may define other parameters but it is not necessary
  4. Click OK. This will bring you to a screen from which you can print the report

Tune in next time to read about the final step in validating and checking for month end closing!

What’s New in SEI V9- Financials on the Web

Financials on the Web

SEI V9 comes with many improvements including the Universal Data Model(UDM). The UDM allows you to create comprehensive reports using data from various sources(sales, inventory, etc).

Free your financial data. Creating financials on the web allows executives and senior staff members to have a comprehensive look at the company’s financial position while allowing for the flexibility to see current and past data.

Financials on the web means you can view your data on the go! No more refreshing excel workbooks, understanding formulas or waiting on coworkers to update excel workbooks .

Executive staff members, not normally working in excel, could have easy, instant access to important information, used to make key business decisions, like a balance sheet & income statement.

User also have the ability to drill down to different dimensions and details or roll up multiple accounts on same line. Financials come print ready so no time is needed to make them pretty. Easily export to excel/pdf or use the SEI distribution service to have them emailed on a schedule to appropriate team members.

Utilize the new budget entry tools available with SEI V9 to allow users to enter budgets and submit them for review. Also include a side by side budget with ease.

Below is an example of what is possible.