How To Run Stock Period Close

How to run Stock Period Close in Sage X3:

Once all the final transactions have been processed, it is necessary to run the Stock accounting interface to post the transactions into the General Ledger. Then you should run the Stock valuation report to reconcile the entries.

To do this, navigate to: Inventory > Periodic Processing > Account. Interface

Stock Period Close - Screenshot 1 (1)

Then enter the financial site you wish to run it for or run it for all. You should also enter the processing date as the accounting date you wish to use to post the transactions.

Stock Period Close - Screenshot 2-1

Use the radio button to decide whether the selection should be based on the date the transaction was created or the date it was validated in the distribution modules.

You may receive a message stating that “Process already carried out for this date”. This just means that the accounting task has already been run for the date in question. It will however, still pick up any transactions that have been entered since it last run and therefore means you can run this option as many times as you need to.

Run a log file will be displayed showing all of the journals that have been created in the General Ledger. Every transaction will create an individual General Ledger Journal and can be viewed from within Financials > Journal Entry option. When you look at the journal the transaction number of the original stock movement will also be displayed to ease reconciliation.

The stock accounting interface is often run as a recurring daily task but may be stopped at period end to prevent transactions from posting into future periods.

When closing the period in Sage X3 a check is made by the system to ensure that all transactions have been posted to the General Ledger.

Whilst you are reconciling the entries it may be desirable to prevent further transactions from being entered into the period been closed. To do this, you can amend the status of the period.

Common Data > GL Accounting Tables > Fiscal Periods(GESPER)

Stock Period Close - Screenshot 3-1

The stock status column will allow one of three selections:

Open – Stock module is open for any transactions.
Balance Adjustment – Which will allow only stock take adjustments to be made.
Closed – Which will prevent any transaction taking place with an accounting date that falls within the period.

Once you have selected the status you require click Save.

The final stage of closing the Stock period is to run the stock valuation report.

Inventory > periodic Processing > Stock Valuation Report (FUNSTVA).

Immediately after running the stock accounting interface the report should be generated and then reconciled to the General Ledger stock balance sheet accounts.

The report reads entries from the stock journal table and produces a valuation of all the transactions which have been posted into the General Ledger.

Stock Period Close - Screenshot 4-1

In the reference/end date enter the period closing date. It is very important to run this as soon as the interface has been run as it cannot be run retrospectively.
Select the company and the costing mode which reflects your primary costing method, as this will be the value that the accounting interface has used to post the transactions to the General Ledger.
Replace the term price with cost – so Standard Price means Standard Cost, Updated Standard Price means Revised Standard Cost, moving average cost and FIFO Cost.
In the calculation section leave all of the selections blank except the accounting date. In the Start-End range section the site is mandatory but all the other selections should be selected as required.
Then run the report.

The report produced will detail the product, total quantity, unit cost and total value with sub totals as selected. Total valuation by company is given at the bottom of the report.

This should now be reconciled against the general ledger and then filed.

Sage X3

How to run stock period close