Post Manufacturing Journals / End of the month

How often do you post Manufacturing Journals? How long does it take to close out the month?

We only post once a month and are pressed to close the month in 2-3 days. I'm hoping for some ideas on how to speed up this process or validate the time we do take.

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Comments

udithap

I find that it's much easier to post once per week. We run full CU each weekend and then I review and post all mfg journals each Monday. Our month end typically is a 3 days process (through financial statement reporting). We typically have a couple of thousand work orders open at any time and are a pretty good sized company (450 employees)

unknown

Thanks for the information Jill! We have as many open work orders as you do employees! I think we might start running full CU every 2 weeks. What we have found is that some of the problems encountered, (like the current one where WIP balance doesn't match the GL), take longer to identify the solution than 2-3 days depending on if we need infor involved.

Thanks for the reply!

judy

I run full costing at least 2-3 times a month and post manufacturing journals. I run the top 2 lines of costing utilities every day. Our month end takes about 3 days to close. I do various checks weekly. I post AP, AR and Cash every day, so I do not have all of those to post at month end.

0904080826502268.xls

unknown

Hello! Sorry for the dumb question, but what is "CU" stand for?

udithap

CU = Costing Utility

unknown

Thank you for all the input everyone! Just an update we are posting MFG journals every twice a month now, and because of the input here I was also able to "motivate" our internal accounting department to do more prep work rather than farm it out! I will let you know if that made a difference in the speed of closing. Should save time and money!

unknown

twice every month*

unknown

Every day in a test environment. Once a month in Live. We usually post on Day 3 of business days after month end. The test database is to fix all problems prior to close so our actual close should go smoothly. We started back in 2002 so now prep can take up to 1.5 hours. We kick everyone out during prep run during lunch to minimize downtime.

systemsadmin

We only do post PMJs once a month, but costing utilities top 2 run at least once a day, bottom 5 run once a week automatically, this helps save some transaction time as it runs overnight via Infor services (we also run MRP/Scheduling similarly). We're a small company, but things can add up if mistakes / anomalies pile up, so what tends to help us the most is keeping the database as 'clean' as possible with daily cycle counts, running regular reports (for things like 0 cost or negative inventory, unreceived / late orders, etc.). We also have a master scheduler who also ensures every WO is closed / costed right as much as possible before month-end, and then the previous month closed to MFG to make sure no backdated transactions occur.

By the time Accounting does their month end, we should be 80-90% done with everything, and we're usually like 99% spot-on with only a few open WOs / missed punches etc. to clean up. Probably the biggest benefit in any company's Visual process is making sure it's someone's job to cost / close work orders properly, perhaps a close 2nd to also have someone who's on top of cycle counts / inventory. The more your people do timely, correct transactions, the fewer headaches for accounting later on.

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