Use the End-Of-Period Update program to close the current Accounts Payable period. The End-of-Period Update should be run at the end of each Accounts Payable period as part of the end of period procedures.
This update enables you to:
Prior to running this update, the user should make sure that the final PO Invoice Receipt Register, Document Entry & Adjustments Register, and Check Register have been run. The Period Check Register, Period Expense Distribution, Disbursement Distribution, Register History Report and Document Removal Register should also be run. At end of year, the 1099 Print should be run.
EFT Payment Batches
This program also checks that there are no payment batches that have been transmitted to the bank but not yet accepted and updated through the register. If these are found, you will receive a message and the update will not be run. This prevents payments from being approved and transmitted in one period but because the bank may not accept the file till the next period, the payments get posted into the wrong period. If there are submitted or approved payments that have not yet been created into batches, those payment are allowed to stay in the check register file as they are and the end of period update can be run.
Access this program by choosing Accounts Payable-->End of Period-->End of Period Update.
Technical Notes: If the number of periods to store paid documents results in APPDTR records being removed, then the corresponding APCHKL records will be updated with a status of “D”. Next, the program reads all APCHKH records and removes all header and line records for checks with a check date beyond the number of periods to store check history.
1. Close-out period
Indicate whether or not to close the current Accounts Payable period. The program defaults to selected.
2. Have the above End-of-Period programs been run?
Indicate if the above reports have been run. This field is just a last check to make sure the user has run all the necessary reports before closing the period. The program defaults to No and the program is terminated.
If the last AP period was closed less than 20 days before the system date, a message is displayed indicating the number of days since the last close. If the last AP period was closed more than 20 days before the system date, the following field is skipped.
3. Are you sure you want to close out this period?
Select OK to remove the records and update the system. Select Cancel to skip the update.
Processing Note:
When you access the End of Period Update, the system displays a message indicating the programs that must be run, such as the Document Entry and Adjustment Register, or the type of document that needs posting through the end of the period, such as recurring documents, before you can run the End of Period Update program.
Run the program or process indicated in the message and then re-access the End of Period Update to close the current period.
When you run the End of Period Update, the program displays a message indicating the current AP period to be closed, that temporary vendors who are inactive will be deleted, and period-to-date purchase figures will be set to zero and payment history will be rolled, the number of days since the last period closed and any reports that need to be run after processing the update.
Press OK to run the End of Period Update program. The system displays a message asking if you are sure you want to close the period (there is no undo).
Select Yes-Close to run the close the current period.
Viewing reports on screen (using the viewer)