Accounting & Reporting AutomationPurpose
1.2. Ensure financial statements and cost of goods sold (COGS) accurately reflect year-end inventory positions and adjustments.
1.3. Eliminate manual errors and reduce auditing time by streamlining journal entries and inventory roll-forwards.
Trigger Conditions
2.2. Manual trigger via accounting dashboard (authorized finance role).
2.3. Automated file/email notification from ERP system signaling year-end start.
2.4. Triggered upon meeting minimum stock movement/final transaction of the fiscal year.
Platform Variants
3.1. SAP ERP
• Function: Inventory Year-End Closing (MB5B report, MMPV transaction)
• Setting: Configure batch job for automatic execution at year-end; export closing balances via RFC/API.
3.2. Oracle NetSuite
• Feature: Inventory Close API endpoint
• Setting: Set up scheduled script to trigger InventoryCount and InventoryAdjustment API actions for all SKUs.
3.3. Microsoft Dynamics 365
• Feature: Inventory Close Process (Inventory management module)
• Setting: Schedule 'Inventory close' periodic job; retrieve data via OData API endpoint.
3.4. QuickBooks Online
• Feature: Inventory quantity adjustment API
• Setting: Use automated workflow to POST inventory adjustments and GET closing inventory report.
3.5. Zoho Inventory
• Feature: API v1/inventoryadjustments
• Setting: Schedule API call to create inventory adjustments and pull year-end inventory summary.
3.6. Xero
• Feature: InventoryItems endpoint
• Setting: Use connected app to trigger periodic GET/POST for item stock reconciliations at year-end.
3.7. Sage Intacct
• Feature: Inventory Control, API ‘GLBATCH’
• Setting: Set up recurring scheduled GL batch creation for year-end closing entries.
3.8. Odoo
• Feature: Stock Closing Scheduler
• Setting: Configure scheduled action for annual closing; export inventory valuation PDF using XML-RPC.
3.9. Epicor
• Feature: Inventory Management, Year-End Closing Service
• Setting: Job Scheduler for Year-End Closing; REST call to inventoryStatusChange.
3.10. Infor CloudSuite
• Feature: Inventory Adjustments API (IC9.1)
• Setting: Set up routine closing jobs via Process Automation for finalizing inventory ledger.
3.11. Acumatica
• Feature: Inventory Balance API
• Setting: Schedule recurring InventoryBalanceGet and Adjust to close year balance.
3.12. Shopify (for wholesale parts shops)
• Feature: Inventory Level Update API
• Setting: Use admin API to retrieve closing inventory and adjust levels with year-end tags.
3.13. Unleashed Software
• Feature: Stock Adjustments API
• Setting: Automated call to POST final adjustment by year-end trigger; GET inventory report.
3.14. Fishbowl
• Feature: Close Books task, Inventory API
• Setting: Set End-of-Year script to trigger Close Books and query final inventory via API.
3.15. Brightpearl
• Feature: Inventory Correction API
• Setting: Configure scheduled job to POST year-end inventory corrections.
3.16. Cin7
• Feature: Stock Adjustment API
• Setting: Call API for final adjustments and document closing balances for audit.
3.17. QuickBooks Desktop
• Feature: Inventory Valuation Summary Report
• Setting: Use SDK to pull year-end report and adjust items as required via batch script.
3.18. SAP Business One
• Feature: Inventory Revaluation API
• Setting: Schedule workflow to automatically evaluate and close inventory at fiscal end.
3.19. FreshBooks
• Feature: Custom app integration; Inventory GET/POST
• Setting: Cloud app triggers actions and reconciles inventory totals upon fiscal close.
3.20. Dear Systems
• Feature: API InventoryAdjustment endpoint
• Setting: Automation triggers final stock adjustment and retrieves year-end report.
Benefits
4.2. Guarantees compliance with accounting standards and audit-ready records.
4.3. Reduces risk of manual errors and labor hours for finance and warehouse teams.
4.4. Enables real-time sync with accounting, ERP, and reporting platforms for transparency.
4.5. Facilitates data-driven post-closing analysis and inventory optimization.