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.
   
   

     

   
   
   

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