VISUAL ERP Year-End Best Practices
2024 is just around the corner, and it’s time for some year-end housekeeping. The end of the year is always busy, and the last thing you want is another list of things to do—that’s why ICG is here every step of the way to help. These tasks are designed to set your business up for success.
Note: A full system backup should be completed and verified prior to starting any process. Follow proper change management processes to ensure all departments agree with any changes or resets.
Lot Trace
- Review retest and expiration dates for lot numbers and move them to the corresponding location(s)
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System Admin Tasks for ERP Systems
- Review Windows, IIS, SQL Security, and all directories supporting VISUAL. Clean up as needed and adjust documentation
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Purchasing
- Review and update vendor contracts, quotes (prices), and Out Effectivity dates
- Review vendor activity and update status to Phased out or Inactive if needed
- Close-out and re-issue blanket purchase orders are required
- Review and close out old purchase orders
- Delete empty order headers
- Reset vendor performance score-carding statistics
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Update Number Sequence
- Review sequence numbers for AP checks and update if needed
- Typically, AR invoices, AR credit memos, journal entries, cash sets, and manual shipment sequence numbers don’t need to be updated, but a review can be suggested
- Review recurring invoices and update if needed
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SQL Backups
- Archive year-end backups (after closing) of all databases for retention and audit purposes
- Archive year-end reports
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Shipping
- Review and close out old completed shipments still in Release status
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Costs
- If using Standard Cost, review and update the fixed and variable overhead rates being applied for labor and materials
- Review, simulate, and update costs, and schedule year-end cost roll as per your processes. (VISUAL Backup to be performed before exchanging to standard cost)
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Financial
- Specify the financial calendar for the next year
- Run costing utilities and prepare manufacturing journals for year-end processing
- Printing of the vendor 1099s
- Year-end payroll processing for VISUAL Payroll
- Make backups after closing of all VISUAL Databases and auditing purposes
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Manufacturing
- Update shop calendar for 2024
- Prepare and load next year’s Master Production Schedule; update planning parameters according to it
- Perform ABC analysis to update item class codes for cycle counting
- Prepare/apply cycle counting
- Review and close out old manufacturing orders
- Delete empty order headers
- Clear and reconcile the Backflush report
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Do you want some help tackling this to-do list?
Contact ICG today!
