Option 2Close Month

During the Close Month procedure, Purchase Orders files are prepared for the next accounting month. When closing the month, the system updates the Products By Vendor file if this update is specified in the Parameters file. It also updates the current month and year in the Parameters file.

If Purchase Orders updates the Product by Vendor file during end-of-month processing (as defined in the Parameters file), the following changes are made in the Products By Vendor file:

• The Price 1 Month Ago field is set to the Current Price.
• The Price 1 Month Ago through Price 5 Months Ago buckets are rolled back one month. That is, the Price 1 Month ago becomes the Price 2 Months ago, the Price 2 Months ago becomes the Price 3 Months Ago, and so on.
• If this is the final month of the year, the LY Units and LY Purchases fields are set to the amounts in the YTD Units and YTD Purchases fields. The YTD Units and YTD Purchases fields are cleared.

The Inventory Control Parameters file specifies whether the “final month” is the final month of the fiscal or calendar year.

Select “Close Month” from the Monthly Processing menu to run this function.