This program does the processing to be done for accounts payable at the end of a month. The end of period processing run should be carried out at the end of each accounting month. A number of prerequisites need to be completed before running an End of Month.
The following tasks are performed during the end of period processing.
- The current accounting period is advanced and transactions are aged.
- The Accounts Payable transactions are purged depending on the retention period defined by the user at set up time.
- The Creditor masterfile records are purged for closed accounts but only if no transactions or balances exist.
Checklist & process
- Enter the last entries for the month.
- Enter the month’s exchange rate for the currencies in use option 11 Exchange Rate Maintenance on the menu Accounts Payable Maintenance.
- Run the Exchange rate adjustment, option 3 on menu Accounts Payable Period End Processing. This will generate the exchange adjustment journals.
- Then run End of Day, option 1 in Account Payable Period End Processing menu.
- Check report printed to ensure that everything is in order.
- Print the Accounts Payable Summary Trial Balance (either option 22 or 23 in menu Accounts Payable Reports and Lists) and check the total outstanding by creditor type against the corresponding creditor accounts in the General Ledger.
- If all figures tally, proceed to End of Month for Accounts Payable.
- In the menu, expand Base Modules > Accounts Payable > Other > Period Close > AP Period Close and double-click AP End of Month. APCEOM A/P End of Month Processing panel appears.
- Select Yes for the Close period field if you wish to close the period once the end of month is run.
- Click OK. This will begin the AP End of month processing.
