Accounts Payable - Period End Procedure

1. Reconcile Checks

This is part of the bank reconciliation process. Without reconciling the Accounts Payable cashed checks to the bank statement, you will not be able to reconcile your bank account.

2. Print Aged Summary Report

This report allows the user to see at a glance, an aged listing of all unpaid invoices. This report is also a great management tool for future cash flow analysis.

3. Reconcile Accounts Payable to General Ledger

The accounts payable should be reconciled to the GL every period. This means that the total outstanding payable shown on the aged report should match the account payable control account as shown in the General Ledger Trial Balance report for the period.

4. Move to the Next Period

Update the Current Year And Period fields on the System Defaults tab of the AP Control File for the relevant Company.