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Can not invoice until previous month is closed-- what is the truth?

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Posted on by Community Member Microsoft Employee

Hi

We have SL2011 and have been consistently told that we can not enter invoices, kit assembly etc transactions at  the beginning of a new month until the previous month has been closed by account.  It is now June 5 and May has not been closed so we have 5 days of un-entered transactions and as a consequence our on-hand qty's and all other data is way off.

I can not believe that there isn't a way to continue to enter current invoices and kit assemblies for the current month  while the previous month is still "open"

Am I wrong?

Thank you

Tom D

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Hi Lisa

    This installation of SL predates me by several years and has gone through 3 "partners" so it is possible that a fix was entered to only be able to enter into the current period but there is no one in the organization that knows that to be the case.

    The inventory is being reconciled at the end of each  month  and the ease of doing so is the primary reason that all transactions are halted until that process is completed. Unfortunately, during that halted period all of our numbers become increasingly inaccurate which is why I am trying to find a way around that.

    Thanks again Lisa, I appreciate your insights

    Tom D

  • Cynthia Audain Profile Picture
    Cynthia Audain 1,270 on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Hi Tom:

    If you do not have the option to change the period to post or that the field is greyed out, the field may have been customized as a security measure to disallow users from changing the field.  

    That said, I am almost sure that, that decision was a "high end" decision make by those in charge.  Thus my reason for asking if there is a business requirement attached to your concerns, which do not have anything to do with the functionality of the software.

    As it relates to the inventory, am not sure what you mean by the inventory being periodless.  Do you know if your inventory system is being reconciled at all?  I have seen many occasions where clients misused and mismanaged inventory because of not having proper controls and lack of knowledge of inventory management.  However, I am not saying that it is the same in your environment, but you may need to understand the business needs for that module and the top end decisions that were made in setting up the module or by extension the application.

    I would start from there first and work my way down and may be you will see what really is the fundamental issue.  

    Cheers

    Lisa

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Hi Lisa

    Thanks again for your reply... it really helps.

    There are 2 issues that I guess we are facing.

    1) We don't seem to have the option of posting to a future period.. that field is grayed out for us.

    2) You say when reconciling inventory  " If you are reconciling then it should be at a time when most, if not all transactions have been done for that period". It seems that inventory is periodless so that even if we found the way to post to future periods inventory would be updated thus making reconciling a lot more difficult. That is what we have been told by our "partner"  but I am sure that we are missing something fundamental.

    Thanks again

    Tom

  • Cynthia Audain Profile Picture
    Cynthia Audain 1,270 on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Hi Tom

    I take it that you are referring to inventory reconciliation to the GL?

    Inventory reconciliations are handled the same way as other modules.  Meaning at the end of each month, your subledgers are reconciled to the GL for that specific period by making sure that your balances are equal to your control account in your GL.   If you are reconciling then it should be at a time when most, if not all transactions have been done for that period.  You could print specific reports in both modules that will assist in that reconciliation.   Two reports that came to mind is the inventory trial balance and the detail GL report.

    Remember as well, that you could print reports specific to the period you are reconciling.  Therefore reconciliation for one period should not hinder you from processing transactions.  It is just that future transactions will only become relevant when you reach in that period.

    I am not sure why it is being mentioned that "reconciliation process is too hard if you don't stop all transactions"  when you do have reports that can be printed for specific periods and you could enter transactions in future  periods without a problem.  

    Am I missing something here or a business requirement that may or may not have anything to do with the functionality of the application?

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Hi Lisa.. this helps a lot! Thank you!

    How do you handle inventory reconciliations when you are still processing transactions, even if they are for future periods? That was one of the other arguments.. .. the reconciliation process is too hard if you don't stop all transactions.

    Thanks again

    Tom D

  • Cynthia Audain Profile Picture
    Cynthia Audain 1,270 on at
    RE: Can not invoice until previous month is closed-- what is the truth?

    Tom:

    Most of my customers enter transactions in future periods, which means they enter invoices etc, in the following month while the previous month is still open.  All one has to do is while entering the transactions changed the period to post to the specific period you want the transaction to update.  This could happen whether at the beginning of a month, middle or end, without a problem.  You could try testing it in a test environment and see how it works.

    This option has always been available, even in previous versions.  The only thing that one cannot do is to post transactions that were entered in future periods to the GL.

    I believe, however, that in 2011 one has the option to give access or disallow entering transactions in previous periods.

    Hope my response help a bit.

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