Sage ERP X3 Tip: Period Close Procedure Identifier: GL006 Procedure Owner: Revision Date:

Activity Introduction Function Owner Description Co!!ents A month-end close procedure must be performed in X3 for financial reporting and to close certain processes within X3. The following paths are recommended to close the period in X3. Na igation !ath" Sales#Shipments#Shipment Validation Na igation !ath" Sales#In oices#In oice Validation
Run for the date range of month to be closed. Run for the date range of month to be closed. Run for the date range of month to be closed. Run for the date range of month to be closed.

Run Shipment Validation Run Sales In oice Validation Run $ustomer In oice Validation %AR& Run !urchase In oice Validation Run Supplier In oice Validation %A!& Receipt Validation

Na igation !ath" A!-AR Accounting#In oicing#Validate $ustomer '! In oicing Na igation !ath" !urchasing#In oice#In oice alidation Na igation !ath" A!-AR Accounting#In oicing#Validate Supplier '! In oicing Na igation !ath" In entor(#!eriodic !rocessing#Valuation#Accounting Interface
Run for the date range of month to be closed. This should be a recurring )ob but is recommended to be run manuall( at end of month

Run 'an* !osting

Na igation !ath" A!-AR Accounting#!a(ments#'an* !ostings

Run for the date range of the month to be closed.

$lose Stoc* !eriod

Na igation !ath" $ommon +ata#,- Accounting Tables#.iscal !eriods#Stoc* Status Stoc* status should be set to /'alance Ad)ustment.0
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Sage ERP X3 Tip: Period Close

Activity Stoc* Valuation Report Function Owner Description Co!!ents Na igation !ath" In entor(#!eriodic !rocessing#Valuation#Stoc* Valuation Report This function is used to print a stoc* aluation report for a gi en compan( according to different calculation criteria or aluation methods of the in entor(2 standard2 re ised standard2 .I.32 etc. Na igation !ath" !rints#!rints b( ,roup#.inancials#.inancial Accounting# Should be reconciled monthl(. It is recommended to be reconciled wee*l( at /,o -i e.0 This report shows in entor( that has been recei ed but not in oiced. Na igation !ath" $osting#!roduction $osts#4I! .inali5ation This cost is used to determine the production cost for a completed wor* order and to calculate an( ariances between the actual cost and the standard cost or the cost based on the wor* order. Na igation !ath" $osting#Accounting $ontrol#4I! Accounting Interface This process is used to pass production trac*ing records and ariances to the general ledger. It is recommended that Aged Trail 'alance2 Trial 'alance2 and detail ,eneral -edger reports are printed Na igation !ath" .inancials#$urrent !rocessings#Re ersals
Run for the period being closed for all applicable re ersal )ournal codes This process can be done manuall( within the )ournal entr(" Set the /Re ersing .lag0 to /To Re erse0 and then enter the re ersal date. 4hen complete2 go to the toolbar at the top of the screen2 choose /6337S0 and then /Re ersing.0 $hange description and re ersing date %if applicable&2 choose /38.0

RNI Reconciliation

4I! $ost .inali5ation

4I! Accounting Interface

Report ,eneration !rocess Re ersals

!rocess 'atch 9ournal :ntries Run Recurring 9ournal ,eneration %if applicable&

Na igation !ath" .inancials#$urrent !rocessings#'atches

Run for the period being closed for all applicable batch entries.

Na igation !ath" .inancials#$urrent !rocessings#Recurring :ntries

Run for the period being closed for all applicable recurring )ournal codes.

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Sage ERP X3 Tip: Period Close

Activity Run $urrenc( $on ersion Variance %If Applicable& Run .inal Validation Function Owner Description Co!!ents Na igation !ath" .inancials#$losing !rocesses#$on ersion Variance
This onl( applies if using multi-currenc(.

Na igation !ath" .inancials#$urrent !rocessings#.inal Validation

This process changes the status flag from /temporar(< to /final0 An entr( in /final0 status can not be modified. All transactions associated with that transaction can not be modified. A /final0 status of an entr( indicates that a month is read( to be /closed0 and /reported0 Verif( that all parameters are chec*ed. The start and end dates should be the first and last da( of the month to being closed.

!rint !re-$losing Verification Report

Na igation !ath" !rints#!rints b( ,roup#.inancials#.inancial Accounting#$-3!:R

!re-closing Verification %X3& for the month to be closed. This report will report an( transactions is X3 that are not posted or in .inal status.

3pen the following or ne=t month Run !eriod $lose

Na igation !ath" $ommon +ata#,- Accounting Tables#.iscal !eriods

Verif( that the following month is open.

Na igation !ath" $ommon +ata#,- Accounting Tables#.iscal !eriods

Verif( that the month being closed is the onl( month set to >es. The month can onl( be closed if all appropriate month )ournal entries are in .inal status.

Run .inancial +ata :=tractor Run 7anagement Reporter

Na igation !ath" .inancials#.inancials#Reporting#.inancial +ata :=traction Run the Statements to erif( results.

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