Exciting news! Our fearless leader, Paul, has more priceless advice to share with our massive MISys Manufacturing audience. Let’s not keep you waiting….
“So this bit is a little more for the accounting types than the manufacturing types, but a couple things that we should do for every month end when we’re running MISys are:
1) Run the ‘Item Valuation Report’ right after you do the last period end for the month and compare the total value of your inventory listed on the report to the value that is in the GL account(s) that you have identified for your various inventory types. Any differences should be resolved, and if you don’t know why it’s different, get in touch with a MISys expert to figure out why so that it stays in sync in the future.
2) Run the ‘Order Invoice Value’ report right after you run the Item Valuation Report and compare the total value of the outstanding ‘un-invoiced’ items to the amount in your PO Receipt Control Account to make sure that they are in sync. Any differences should be resolved, and if you don’t know why it’s different, same as above – get in touch with a MISys expert to figure out why so that it stays in sync in the future.
There are of course other things to check but those are a couple of important ones to make sure that your books stay nice, clean, and fresh smelling…
There you have it. Brilliant. Just brilliant. Thank you, sir.