Tips for year-end processing in Infor M3

Year-end can be a stressful time in finance. Lars Nilsson, who is a global expert in Infor M3 Finance, has put together a valuable, practical 15 minute presentation which details what you need to think about before, during and after year-end.

Here is a brief summary or you can link straight to the webinar here.

Financial Year-End Processing In Infor M3

Year-end processing in M3 is simple, if you know what needs to be done. There are no particular roll-over jobs, and GL balances are brought across automatically. There is a requirement for posting the year’s profit/loss. There are a few optional and mandatory actions to be completed in Infor M3:

Actions you need to take before the year-end including

• managing date limits
• do-ahead actions that can be done well in advance like updating the journal number series, invoice number series, system calendar, system periods,
• managing fiscal year periods

After the year end, there are some optional and mandatory actions:

• posting the year’s profit/loss – mandatory
• annual run of GL, CA, AR & AP to improve performance
• annual run of Fixed Assets

There are other things to consider related to year-end:

• budgets in templates and reports
• commitment accounting
• fixed asset depreciation plans for non-standard monthly periods
• archiving

Other regular checks

• voucher number series
• number series

Non-finance programs to think about including

• time zones, shift patterns and work schedules

To learn more details about all of the above – Check out Lars’ presentation.