Prasad Parmeswaran

Period End is a very critical process for any organization , after thorough verification and validation subledger periods are closed . In this article i have put down the process followed during AP Closure .

The Month End Process in Accounts Payables involves
Steps During AP Month End Closure
1)Invoices validation
2)Payment Batch Confirmation
3)creating accounting for payables categories such as Invoices and payments
4)Transferring of accounting information to GL.

a)For Invoice Validation Run the invoice validation process to validate all the invoices that are PO Matched . You can the run the process for new invoices or all invoices.




b)Payable Accounting Process
The Payable Accounting Process will create accounting entries for invoices and payments in Accounts Payable.

With Payable accounting Process you can do a transfer to GL and GL Import Simultaneously

Payable transfer to GL, transfers the accounting information from AP to the GL_INTERFACE tables and GL Import which imports subledger accounting data into GL. The import is done based on Sources and Categories





c)After running the above reports try to close the payables period. If you are unable to close the period run the
Period Close exception report .



d) Review the Output file to see any unaccounted transaction or error and correct the exceptions .


e)Rerun Payable Accounting Process after the corrections are done

f)Close the Accounting Period in Payable

 

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