End-Of-Period Update (APU890)

How To

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.

The update process contains these actions.

• Closes the current period in accounts payable.
  
• Removes all temporary vendors with a zero balance.
  
• Removes documents from the past history file if the balance is zero and the document is older that the number of periods set in the static control records for storing past documents.
  
• Clears the month-to-date vendor information.
• Invoices are removed from the AP Static Control file, based on the number of months to store paid documents, and their status is updated in the AP check history detail file. Check history records are removed based on the number of months to be stored in the AP Static Control file.
  
• If this is the end of the year, year-to-date information is rolled to prior year.
  

Prior to running this update, ensure 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

A check is performed to determine 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.

To access this program, click Accounts Payable>End of Period>End of Period Update.

Click field descriptions for information on each field.

See also

Using reports

Using print options

Using report templates

Viewing reports on screen (using the viewer)

Using reports and prints as audit trails

Register procedures

How to run the End-of-Period Update