Page Comparison

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1. Make sure all information is current in PrismCore ICS.
   1. Receive all items ready to be received (including merchandise transfers).
   2. Enter and post all available invoices.
   3. Enter all miscellaneous stock adjustments.
   4. Post buyback, if necessary, and close all buyback invoices, if necessary. If this is not done, and you are set to require closing of buyback invoices, the Close the Sales Month process is halted and you will have to back out, and close the invoices before you can continue.
   5. Post all returns, merchandise transfers or sale to wholesalers that are ready to go out.
   6. Enter and post all available finished credit memos at Resolve credit requests (including merchandise transfers, discrepancies, and sale to wholesales).
   7. Ship all Mail Orders that are ready to go out.
   8. It is important that, in Item Maintenance, items have a cost and retail price.
   9. It is important to review negative inventory before closing the sales month.
2. Sales
   1. Verify that all sales that were incurred for the previous days of the month are posted on PrismCore ICS.
   2. Post the sales for the last day of the month. If closing at end of business day.
   3. Run the Daily Update from PrismCore Admin.
3. Review Stock Ledger Reports
   1. Run the Stock Ledger Spreadsheet report
   2. Run each of the individual Stock Ledger reports.
   3. Compare the Stock Ledger reports with the Stock Ledger spreadsheet
4. Close the Sales Month
   1. Close the sales month.
   2. Be sure you have a good backup from the night before.
   3. Do not check the box to "Post any remaining Unposted Sales" if you have already posted them manually.
      1. Check this box only if you skipped step B3 above.
      2. If you have unposted sales, and want to close the month without posting them, do not check the box, and click OK.
      3. If unposted sales exist, a dialogue will appear, stating, "Unposted sales exist. Do you want to post these sales before closing the month?". If you do NOT want to post, say No. If you do wish to post, say yes.
         
         NOTE: This is the last chance you have to cancel the close sales month process.
         
         
   4. Standard Retail Inventory Valuation Method Only: run the Cost of Goods Sold process after verifying that the Daily Update has been run. Be sure to run the Daily Update to the spreadsheet after running COGS.
   5. Run the 'Calculate Inventory Variance' process. If you use the Standard Retail Inventory Method, you can run this process immediately after running the COGS process.
   6. Run the Inventory Value report from Physical Inventory module imediately after closing sales month.  Compare values to current/ending values in stock ledger.
   7. Review the Stock Ledger Spreadsheet report. Call PrismCore ICS Support, as soon as you can, if there are any discrepancies or if you have any questions

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