Fastbase Accounting System - Online Manual

Accounts Payable Period End

Entered Fri, 1 Nov 2002 15:12 by Peter Campbell
Updated Thu, 9 Sep 2004 16:14
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1. Process any standing transactions (Transactions, Process Standing Transactions).
   
2. Ensure all accounts payable transactions have been entered for the current period and supplier statements have been reconciled.
   
3. Generate supplier payments by running payment processing (Processing, Vendor Payments).
   
4. Run period end processing for the accounts payable module (Processing, Period End).
   
   If you have overseas suppliers you will be prompted to enter/confirm the exchange rates for the various currencies in use. The entered rates are used to update unpaid transactions to the general ledger and for reporting purposes.
   
   This process closes all batches for the old period and changes the current period end date to the new period end.
   
   
5. Run a Supplier Aged Trial Balance and Supplier Audit Trail as required (Reports, Financial).