Tips for year-end processing in Infor M3

May 29 2020

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.

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