1. Check on
Invoice on Hold Report – To ensure all of the invoices is not on Hold. This can be done by using ‘Invoice on Hold Report’
2. Check for
Unapproved invoices – To ensure all invoices are approved before the month end closing. This can be done by using ‘
Invoice Register’ with option of unapproved only.
3. Check for any unaccounted invoice or payment – To ensure all of the approved invoices and payments are accounted in the system. This can be done using ‘
Unaccounted Transaction Report’.
4. Transfer all accounted invoices and payments to GL – To consolidate all of the invoices and payments to GL. This can be done using the ‘
Payable Transfer to GL’ Program. At this stage the program will also automatically call up another program ‘Journal Import’ to import the Program to GL.
5. Run ‘
Account Payable Trial Balance’ Report to reconcile with GL ‘Account Analysis with Subledger’ Report, with parameter “Source: Payables”. All of the amount in each account should be equal. If it is not equal, then AP and GL need to investigate, also GL Interface table has to be investigated
6. Run ‘Account Payable Trial Balance’ Report for last period.
7. Run ‘Posted Invoice Register’ report to view the invoice posted in this period.
8. Run ‘Posted Payment Register’ report to view the payment posted in this period.
9. Reconcile these reports according to this manner:
A/P Trial Balance (Current) = A/P Trial Balance (last month) + Posted Invoice Register – Posted Payment Register.
10.Close Current month period.
11.Open Next Period.
12.Sweep all of the left over invoices to next period.
