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Five Steps to Complete Your Microsoft Dynamics AX Inventory Close for 2009, and Prepare for 2010

by Sanam Khan
Senior Consultant,

I recently provided guidance for handling the inventory close process using Microsoft Dynamics AX. In this followup article, I provide five steps for completing the year-end 2009 inventory close in such a way that you prepare your organization for handling the same process more efficiently in 2010.

1. Prepare to run the inventory close.

Before you perform the inventory close, the following tasks are recommended: 

--Make sure that the inventory model assigned to the item on the Inventory model tab of the Inventory model groups form is accurate. Inventory close will settle transactions to each other based on the current inventory valuation method assigned to the item.

--View or print the Open quantity report by clicking Inventory management > Periodic > Closing and adjustment > Close procedure > 1. Check open quantities. This report will print a list of inventory transactions that will remain open after the inventory close is performed.

For example, you have an item that includes the following transactions:

  • Inventory physical receipt for a quantity of 10
  • Inventory financial issue for a quantity of 3

In this case, the report will show an open quantity of 3, since this financial issue cannot be settled to any transactions. The Open quantity report also includes a Show receipts option that lets you view all the physical receipts posted for an item and all the open quantities that will remain after an inventory close for the date specified.

--Print or view the Investigation of cost price for receipts report by clicking Inventory management > Periodic > Closing and adjustment > 2. Check cost prices. This report allows you to enter a maximum deviation percentage. Items that appear on this report will be only ...

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About Sanam Khan
Sanam Khan is an ERP senior consultant  with Maison Consulting & Solutions, ERP partners of Microsoft in Pakistan and the Middle East. She has implemented many Microsoft Dynamics AX projects, both in Pakistan and elsewhere. She specializes in Dynamics design and analysis, requirement specification definition, proof of concept, business process mapping BMP, business process reengineering BPR, team leading, IT project implementation / Management , data conversions, integrations, ERP pre-sale activities and post-implementation support roles. 


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