Allow Transaction During Month Close

Your IC operations are 24/7? Can you halt operations at 11:30 pm and run your IC close?

There’s actually no requirement to cease processing for month end close. You need only to be wary of the post dates on transactions which must occur in an open period. Period close is a control on post dates on transactions and not a control on the transactions themselves. In IC applications, the post date defaults to the system date. Therefore you only need to post forward (i.e into the next period) in IC130.

If it helps, we worked with Accounting and we both wait to perform month end close until the following business day. It doesn't have to be closed on the physical end of day of the actual month. We found that as long as PO, AP and IC stay in sync it doesn't matter. For year end close we actually don't close until around the 14th or so to allow for AP to get payments applied to the previous fiscal year.

Most of our inventory locations are 24/7 so we simply ensure we are closing after business day after the par locs have been stocked for the night.

For any after hours walk-ins, IC21s can be created and just not released until the supervisor can go in and update the date the next day.

How many transactions are you talking about? Can you close later? We close AP then Procurement but we can close Procurement much later than AP - as long as we close before they process any more invoices, we're good.

Hello,

Yes our IC operations are 24/7. Different hospitals have their own schedules for par counts which they mostly follow. But issues can come in any time throughout the day. Our warehouse staff run PO and IC close so we run it in the afternoon with IC starting at 4pm. We don't have anyone working late night to do the close.

 

Thank you,

Ian

Hi Bill,

When IC190 is run, unreleased issues will cause errors and stop us from closing. Are you saying if we modify the Post to GL date on the issues so that it posts to the next period, then they won't cause errors?

 

Thanks,

Ian

Hi Michelle and Kat,

That's for sharing, I will look into moving our closing a day out and see if that will benefit us. Currently we close on last calendar day but staff want to change that to the last business day instead. According to your replies, sounds like that will be find as long as AP and GL are on the same page.

 

Thank you,

Ian

In GL01.2, allow the IC system to post to forward period(s) to allow users to enter and release transaction into the next period (i.e. after the clock turns after midnight on the last day of the month).

When you initiate the IC close, you will need to release all transactions and post them. When you run IC130, use a Thru Post Date that is the last day of the forward period. Transactions will then post into their correct period.

When you run a Valuation IC234, use the Post Date parameter (not the transaction date) to tie back to the GL.

I would advise the PO system always close on the last working day of the period. You will not want receipts created on Monday to be for the prior month. That should be possible as long as the GL system is ready for the current period’s PO135.

There is no real prerequisite to close IC after AP closes. Rather, the prerequisite is to close IC after AP175 posts because it could contain Cost Adjustments which IC130 will pick up. There is no validation on IC190 IC199 as to whether AP system is closed. It is true the PO system must be closed.

I appreciate your suggestions and will give them a try when I get the chance.

Thank you