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Business Accounting Software - Sage MAS 90 and 200 ERP Training, Michigan and Ohio
The more knowledgeable that you become with our ERP and accounting solutions, the greater the contribution you can make to your company's overall success. To help increase your level of performance, Orion BAS offers professional product training documents.
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Order of Close for Modules Year-end and Period End processing is a vitally important step in keeping your data healthy. Many modules maintain buckets of data by year (year-to-date, prior-year, etc.). These data elements are reinitialized during year-end processing. Lots of other housekeeping is performed during year-end as well. For example, in General Ledger, income and expense account balances are cleared and net profit is posted to the Retained Earnings account. Closing Order - its Important! |
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Hierarchy of Costs The valuation method of an item affects the order in which each type of cost is used in the Sales Order, Purchase Order, and Inventory Management modules. In the Purchase Order module, the valuation method of an item determines what cost is used in Automatic Reorder Selection, Auto Generate Orders Selection, Purchase Order Entry, Receipt of Goods Entry, Return of Goods Entry, and Material Requisition Issue Entry. In the Purchase Order Module, the hierarchy begins with vendor prices levels. If vendor price levels do not exist, then the Vendor Last Cost in Inventory is used. If the Vendor Last Cost is zero or no vendor is assigned to the item, then the Last Cost is used. If the Last Cost is zero, then the cost hierarchy specified for each valuation method is followed. |