Accounts Payable Month-End Processing
Confirm the Processing Date is set for the month you are closing.
Transaction cut-off date:_____________________
Confirm the following daily processes have been completed:
- Totals button to confirm that no unposted batches exist.) – Confirm that all A/P invoices have been updated to the Vendor file and General Ledger. (Click the
- Update button and select Preview. Make sure the display is blank, indicating that all items have been updated for the month.) – Confirm that all manual checks have been updated to the vendor file. (Click the
- Update button and select Preview. Make sure the display is blank, indicating that all items have been updated for the month.) – Confirm that all void checks have been updated to the vendor file. (Click on the
- F4 in the Processing Group field to make sure there are no batches.) – Verify that all checks have been posted to the vendor file and there are no payment batches in process. (Press
- Preview button. Make sure the display is blank, indicating that all items have updated for the month.) – Confirm that all check processing has been updated to the General Ledger. (Click the
- - Print to account for all checks. This will be a manual process to verify all check sequence numbers.
- – Verify that all invoices for the current month have been approved and/or confirmed. (This step is necessary only for those sites using A/P invoice approval.)
- - Confirm that no exceptions display on this report. (Accept the screen defaults when running the report.)
- Select the applicable fiscal year and fiscal period.
- Select the Trade Payable Account and Retention Payable Account to obtain the total for both accounts.
- Print the Trial Balance for Accounts Payable.
- Enter the period cut-off date.
- Select the Include paid Invoices checkbox.
- Run by Vendor and Summary to obtain the total.
- Print the A/P Aged Payables Report.
Verify the totals for General Ledger and Accounts Payable reconcile
- Trade Payables Accounts: ____________
- Retention Payable: ____________
- Total: ____________
- Aged Payables Report Total: ____________
Month End Accounting Reports to Print and Retain
- Aged Payable Report – Print the detailed version
- A/P G/L Distribution Report – Print a Summary version (sort by Vendor)
- Check Register History Report
If applicable:Subcontract Detail Payment Report
- Subcontract Analysis Report
- Subcontract Status Report
Change Processing Dates
- - Change the processing dates to reflect the new period.