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  • Writer's pictureLouis Stoop

End of Financial Year tasks for Maximo

Updated: Jul 27, 2020

A Short checklist for your end of year tasks in Maximo. Some of these tasks can be configured via Crontask but its good to verify anyway. Keep in mind these are controlled by security settings, and its your duty as the Administrator to make sure only select staff have access to these functions.

Here a list of things to review:

  • Assets: Set you Assets 'YTD cost' to Zero. You can do this by selecting all Assets in your Assets screen, and select Action 'Zero Asset Costs'. In the new Dialog Box it will offer you the choice to Zero YTD costs only and/or Zero Total Costs. Only select your Year To Date, never your Total costs, unless you are resetting your Maximo...

  • Inventory: Check your YTD counter in Inventory (Action item in Inventory, typically only accessible by Store Manager: Zero Year To Date Quantities) to reset your YTD issue (and 1 yr ago, 2 yr ago etc). This is a single button to roll your counters one year down. This task can be done for all storerooms/sites/org in a single click. So do NOT repeat this step for other storerooms, as you would end up rolling your quantities multiple times..

  • Calendars: This is also a good time to review your calendars for 2019 and 2020. Verify they have been defined, especially if you are using them for Scheduler and Assignments of your people.

  • Financial Periods: If you are using Financial Periods in Maximo, verify you have valid Financial Periods for Jan 1st onward. (Check in your Chart of Accounts - financial Periods) Don't get caught with users who cannot book hours on Jan 1st. They would get an error message: "The date is not within a valid financial period" if your Financial Periods have not been set for 2019.

Bonus round:

  • Asset Cost Rollup (Maintenance Cost Rollup Update Report) This is a report that will roll up the costs for your Asset Hierarchy to your Asset Totalcost field. I recommend to run this report daily at e.g. 2AM so your Totalcost is daily updated. If you didn't, now is a great time to set up that daily schedule. Email yourself a PDF of the result, or send yourself a link to download the PDF when you like to review the results.

This article was originally posted in Linkedin, December 2018

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