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Managing Inventory Months
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Managing Inventory Months

Owned by Aparajita Basu Roy (Unlicensed)
Last updated: Nov 13, 2024
2 min read

Inventory months is a month wise division of a inventory year to control the inventory entries i.e. to allow or restrict transaction for the month. Transactions for the month can be restricted by closing the month. It is to be noted that months can be closed sequentially only if it meets required validations. Recalculation of Cost Of Goods Sold (COGS) can also be done from here. (From version 12.1.0 - 2.1.0 onward).

This article tells you about - Recalculation of Cost Of Goods Sold (COGS) and Opening / Closing Inventory Months.

Prerequisites

  1. The user's role must have the Save application operation enabled for  Admin - Organization - Inventory Months  through Roles in Ginesys Web - Admin - Security. 

  2. The users have separate Open and Close permission for more flexibility in usage. This separate permission ensures, user is able to access the options depending upon the role being assigned. It a security check to ensure sanctity of financial data (From version 11.137.0 onward).

Step-by-step guide

  1. Go to Admin > Organization > Inventory Months.

  2. Follow the given table to close the inventory months.

      





After version 12.25.0 - The validation process has been enhanced to display all unposted documents from the Sales and Distribution module—such as Transfer In, Transfer Out, Sales Invoice, and Sales Return—at the time of closing the Inventory Month. Previously, these documents were not shown during Inventory Month closing, which led to issues in posting them after running COGS and closing the Finance Month. Now, along with Procurement Invoices and Return documents, all relevant unposted documents will be clearly visible to the user before completing the Inventory Month closure.




To go back to the main page click on Managing Periods in Ginesys Administration



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