Infor M3 Month-End Close Checklist (Free)

0%

0 of 34 items complete

14 critical items still open - these are the highest-risk gaps.

Download checklist:

Purchasing and accounts payable

All supplier invoices received by cut-off are entered and matchedCRITICALInvoice batches are approved and updated to the general ledgerCRITICALGoods received not invoiced (GRNI) list reviewed and accruedOpen purchase order lines with receipts in the period are checked for correct receiving statusSupplier statements reconciled for key suppliersPayments run and bank file posting confirmed up to the cut-off dateAP subledger balance agrees with the control accountCRITICAL

Sales and accounts receivable

All delivered customer order lines are invoiced or deliberately heldCRITICALInvoicing run completed and updated to the ledgerCRITICALDeliveries made but not invoiced listed and reviewedCustomer payments and cash allocations posted up to the cut-off dateCredit notes and returns processed for the periodBad debt and reserve review doneAR subledger balance agrees with the control accountCRITICAL

Inventory and production

Pending receipts, issues and stock transfers are completedCRITICALManufacturing orders completed or reported as work in progress, with variances reviewedCycle counts and physical inventory adjustments posted before valuationCRITICALInventory valuation run and reconciled to the inventory accountsCRITICALNegative stock balances investigated and correctedStandard cost changes approved and dated correctlyScrap, obsolete and slow-moving stock provision reviewed

General ledger, assets and FX

Recurring and accrual journals posted and reversal journals scheduledIntercompany transactions matched and eliminatedCRITICALExchange rates for the period loaded and verifiedCRITICALForeign currency revaluation run and postedFixed asset depreciation run and reconciled to the asset ledgerAllocations and distributions postedBank and cash accounts reconciledTrial balance reviewed and unusual balances explainedCRITICAL

Period control and reporting

Subledger periods closed in the agreed orderCRITICALGeneral ledger period locked after final reviewCRITICALManagement reports and financial statements produced from final dataLate adjustments logged and approved with reasonClose calendar and lessons learned documented for the next cycle

Tick items as you complete them. Critical items must be done before the general ledger period is locked. Local policy and statutory rules may add steps.

Automate your M3 close checks

We can discuss which reconciliation checks could be automated, with approval kept in human hands.

Optional. The tool and every export work without this. No spam.

How to use the checklist

Copy the list at the start of each close, assign an owner to each group, and tick items off as they are finished. Run purchasing, sales and inventory first, then reconcile the subledgers, then post general ledger entries and lock. Export to PDF to keep an audit trail or to Excel to add dates and initials next to each item.

Why the order matters

Inventory valuation depends on all receipts, issues and production reporting being complete. Accruals depend on receipts and invoices being cut off consistently. The general ledger lock should come last, after subledgers agree with their control accounts. Closing in a different order tends to generate late adjustments and reopened periods.

Logistics transactions first
Subledger runs and reconciliations next
General ledger adjustments after that
Period lock and reporting last

Common mistakes

Skipping the reconciliation of subledgers to control accounts is the most expensive mistake, because differences found after reporting require rework. Other frequent issues are forgetting to reverse accruals, running revaluation before final rates are loaded, and leaving negative stock unresolved before valuation. Agree a cut-off rule and apply it to every module.

Frequently Asked Questions

Does M3 close all modules at once?

No. Subledgers and the general ledger have their own period controls, so you close them in a planned sequence. The checklist reflects a typical order, which you should adapt to your configuration.

How should GRNI be handled?

List receipts without matched invoices at period end and accrue them according to your accounting policy. Reverse the accrual in the following period. Review old items regularly as they often hide errors.

Can I reopen a period?

Usually yes, with the right authority, but it should be exceptional and logged. Frequent reopening means the close sequence or cut-off rules need improvement.

Is this list enough for statutory close?

It covers the operational steps. Statutory, tax and audit requirements vary by country and company, so add local items such as VAT returns, withholding and statutory reporting.

If your close takes days of manual reconciliation, we can look at which checks could run automatically against M3 data with a human approving any change.

Talk to an Expert Explore More Free Tools

Related Tools

Infor M3 & CloudSuite

More Infor M3 & CloudSuite tools

See all

Infor M3 Month-End Close Checklist for Finance and Logistics