Update Physical Inventory and/or Close of Month
Actions Prior to Closing of the Inventory Management Module
Before closing the Inventory Management module, it is suggested:
Check that there are no pending transactions to be entered for the period to be closed (incoming, outgoing, requisitions, credit notes for returned inventory, adjustments, etc.); since, when the module is closed, no transactions can be made with the date of the closed period (the accounting entry of the day on which the transactions are made must not be issued).
There should be no documents (incoming, outgoing, requisitions, credit notes for returned goods, adjustments, etc.) in the process of register, they must be authorized and updated. In case there are documents at the moment of executing the closing, it will display a window showing the documents.
Generate the accounting entries of the period to close:
- Incoming to warehouse: Administration (Back Office) → General Accounting → Generate Accounting Entry of Incoming Inventory.
- Departures from warehouse: Administration (Back Office) → General Accounting → Generate Accounting Entry of Inventory Outgoing.
- Issue the report "Comparative Physical Inventory vs Computer in: Administration (Back Office) → Inventory Management → Comparison of Physical Inventory vs Computer and compare which auxiliary accounting entries of the Trial Balance; ideally, the balances should coincide or be reconciled. If there is a difference between the valued physical inventory and the inventory estimated by systems, it will not allow the module to be closed.
The system allows to print and register operations of the month after the open month.
Closing of the Period
To close the Inventory Management module, perform the following actions:
Select the warehouse to be closed by clicking on the Select Warehouse icon.
Go to Administration (Back Office) → Inventory Management → Update Physical Inventory and/or Close of Month
In the Update Physical Inventory, click on the Close Current Month button [Will Show Open Month].
If there are pending transactions, they will be displayed on the screen. Press the Back button.
All the aforementioned actions will be carried out to close each of the warehouse or warehouses registered by the company.
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