About Year End Processing in Accounts Payable

At the end of each fiscal year, use the A/P Year End screen to transfer current-year activity statistics for vendor groups and vendors to the previous year, in preparation for a new year. You may also want to follow the same procedures you use at the end of each period.

The Year End function performs the following tasks:

• If you select the Reset All Batch Numbers option, Year End resets the next batch number to 1 for all batch types, and deletes all information for posted and deleted batches, so they no longer appear on the Batch Status report.

  Note: After resetting batch numbers, you can no longer view transactions from the General Ledger Transactions screen.

• Inserts the Average Days To Pay total from the year you are closing into the Average Days To Pay field for the previous year and into the Total Days To Pay field for the new year in vendor records.
• Clears activity statistics, if you select the Clear Activity Statistics option. This step moves year-to-date vendor activity statistics to last-year activity statistics, and sets year-to-date totals for the new year to zero. It also sets the largest invoice this year and the largest balance this year to zero.
• Resets to 0 (zero) the Total Days To Pay on the Statistics tab of the Vendors and Vendor Groups screens, and resets the Total Invoices Paid and Number Of Checks on the Statistics tab of the Vendors screen (if you select both the Clear Activity Statistics option and the Clear Invoices Paid And Days to Pay Counter option).

• If you select the Clear Total Recurring Payable Amount option, clears the total amount accumulated for each recurring payable, so that you can resume processing the payables in the new year.

Last published: 4/8/2016