Closing the purchase order period

The frequency that you send Purchasing and Inventory activities to Global Ledger is determined by your organization. Close the purchase order period to ensure that all purchase order activity has been updated to the Global Ledger.
  1. Select Manage Purchase Orders.
  2. Select a purchase order record.
  3. Click Release.
  4. Run Journalize Distributions for Inventory Control.
  5. Optionally, standard cost companies can run Purchasing Standard Cost Calculation to create reversing journal entries. This shows the difference between purchase order cost and standard cost for inventory items.
  6. Report on invoice details that were processed without a received quantity using the Matched, Not Received Report.
  7. To report on received, not invoiced receipt lines, and the invoice lines tied to them, run the RNI Aging Report. Receiving roles, buyers, and payables roles can run this report throughout the month to resolve these receipts and reduce the RNI amount for the next period.
  8. To close historic purchase orders, run the history report for purchase orders using Purchasing System Close.
  9. If you are using subsystem control, as defined in Global Ledger, then close Purchasing using Subsystem Close.

    When you run the program, indicate whether to release inventory receipts before closing the subsystem and whether Received, Not Invoiced Report must be run in Update mode for the period that is being closed.