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We close A/P and A/R at the end of the last 'business' day of the month, as
defined by our 4-4-5 accounting calendar. Actually, EVERYTHING is closed
at the end of the last business day each month, except for G/L and C/M.
Our business live revolves totally around our accounting calendar.
R. Tim Kresky, Controller
Sunflower Manufacturing Company
Beloit, Kansas
"Wu, Eva"
<Evawu@PTS-TOOLS.CO To:
"'JBAUSERS-L@midrange.com'" <JBAUSERS-L@midrange.com>
M> cc:
Sent by: Subject: RE: Accounting
Period - Change of Method
owner-jbausers-l@mi
drange.com
07/25/01 08:28 AM
Please respond to
JBAUSERS-L
When you close A/P and A/R on the last business day of each month, are you
following the calendar hanging on the wall or the business calendar you set
up?
-----Original Message-----
From: tkresky@sunflowermfg.com [mailto:tkresky@sunflowermfg.com]
Sent: Wednesday, July 25, 2001 8:41 AM
To: JBAUSERS-L@midrange.com
Subject: Re: Accounting Period - Change of Method
We're on 4-4-5 here. The best advice I can give is to make sure ALL your
various calendars reflect your periods. The system worries about what
period it is in, not what the date is. So, as long as your calendars are
right and you are following proper month-end closing procedures, everything
works wonderfully.
As for sales analysis... We keep it in line with the calendar for the
business, not the calendar hanging on the wall.
As for the financial modules... At the end of the last business day of
each month, we close A/P and A/R and open for the next month. (Obviously,
we also close out the nonfinancial modules, such as Inventory.) G/L and
Cash Manager remain open for the next week, as we work through our closing
process. Given Sales and Inventory have been closed and opened in the next
month, the system knows to post all AFI activity from those modules to the
new month in the G/L (even though it hasn't officially been opened yet).
Again, it all works quite well.
One note on Cash Manager. If you leave it open for a week like we do and
you want to post a misc cash receipt for the NEW month via a journal entry
to C/M, remember to override the posting period (it defaults the old month
into the period field).
R. Tim Kresky, Controller
Sunflower Manufacturing Company
Beloit, Kansas
John Taylor
<John.Taylor@britax To:
JBAUSERS-L@midrange.com
-pmg.com> cc:
Sent by: Subject: Accounting
Period - Change of Method
owner-jbausers-l@mi
drange.com
07/25/01 05:35 AM
Please respond to
JBAUSERS-L
Our parent company has decided to change the way we report to it by moving
from calendar period ends, to a system of periods containing 5 weeks and 2,
4 week periods per quarter.
Can anyone explain the implications of, or give further examples of pros
and
cons with this change across the System 21 financial suite (352SP3). I'm
aware that sales invoices will be able to be raised for example in the
first
period (was January) with a February invoice date. This I presume will have
some knock on effect with aging reports. Also sales analysis, if kept in
line with SL period end will not reflect the true sales per calendar month
-
should this be kept in line with the new period close (as a cross check for
accounts) or left as is to report monthly sales?
Also what about PL, Cash and GL? (I admit not in my area of expertise but I
can pass on anything relevant)
Any feedback would be useful on this one.
Regards
John Taylor
IT Manager
Britax PMG Limited
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