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Hello,
Can anyone tell me that how to do 'Inventory closing process'. What are the pre-requisites and process to do.
Thanks,
Sai
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Hii Sai Nag,
Just check out this link:
technet.microsoft.com/.../gg243211.aspx
Hope you'll be able to do it.
Thanks.
Good morning
If you are sure that the Item model Groups assigned to all your inventory are correct you can follow the following link to perform the Stock close:
Stock and Warehouse Management/ Periodic/ Closing and adjustment
Select Close procedure and click on Close (The transactions which will remain open after the close can also be viewed prior to the close if you select "Check open quantities" )
Select the date up and till when you want to close the Stock.
If you want to run a calculation up to the current date after the closing has been completed, click the "Run recalculation after closing".
The rest of the default setting should be sufficient and you can click on OK.
After the close is performed you can view the settled stock transaction by selecting the record and then click on "Settlements".
Just to add to Charne's excellent answer, Inventory close really likes 'financially updated' transactions.
That means Invoicing as many Purchase and Sales orders as you can, Ending production orders where you can and Receiving all Transfer orders that have been completed. Often, Inventory close is one of the steps in the end of financial period activities. Obviously you can't financially update everything (you have no control over when your vendors send in their invoices), but you could arrange, for example, that all the Purchase order invoices that have been received by the company are approved and posted in a timely fashion at period end.
Hi Sayan,
Thanks. It will be very useful to me. :)
Sai Nag
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