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.

  1. 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
  2. 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
  3. 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
  4. 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!

What’s New in SEI V9: Finance UDM Pt. 3

Last time we walked through how to publish your account mappings and build/load the Accounts cube. Now you are ready to tackle the report blueprint!

The report blueprint is just as it sounds; a blueprint from which to build your financials. In this step we will define account groupings and signs(+/-).

Begin by navigating to the ‘Report Builder’ process.

Expand this process and double click to open the ‘Report Blueprint’.

In this report, you will see groups defined in the first column. There are default groups which you can utilize or create your own. To create your own, we will utilize the info pages.

Right click on the Report Builder process and choose ‘View Info Pages’

Here we are going to utilize the ‘Create New Report’ section. Enter a report code and choose a language. Depending on your database, choose the SQL Server only option or the ORACLE only option.

Open the Report Blueprint to see your new report code. In this report you will define the account groupings. For example, our first level (Level 01) is the general account name: Assets.

Our Assets account can then be divided into Current Assets and Fixed Assets (Level 02).

You may stop here, or maybe you need to get more granular. In Level 03 you can see we break up Current Assets into Cash, Accounts Receivables, Inventory and Other Current Assets. The Fixed Assets definition stops at Level 02.

So now we have our levels defined, next step is to associate the account groups. These groups come from the Account Mapping report. A group will be placed in either the ‘Keep Sign’ or ‘Reverse Sign’ column.

In our example, the account groups for Current and Fixed Assets are in the ‘Keep Sign’ column. The previous steps will be repeated for you other account groupings.

After everything is mapped here, we must save the data and publish the report as we did for the Account Mapping report.

To do this, click on the save disk, ‘Save Data’ then ‘Save’.

Close the report. Right click on the Report Builder Process and choose ‘View Info Pages’. Fill in the Report field with your report code and click the update button that matches your database (SQL or ORACLE).

Now you are ready to begin creating your Financial reports!