Payables Month end checklist

Complete entry of all invoices received dated up to last day of period.

Make necessary adjustments (memo and prepayment) against invoice

Validate all invoice batches for the current period.

Run Invoice on Hold Report. Review and release holds as appropriate.

Submit Payables Accounting Process to create accounting entries for the current period.

Run Unaccounted Transactions Report. Review any unaccounted transactions and correct as appropriate.

Re-submit the Payables Accounting Process.

Submit Payables Transfer to General Ledger process for current period.

Set current period to Closed and Open next period.

Submit Unposted Invoice Sweep program to update the GL date of any unaccounted transactions (invoices on hold).

Run AP Trial Balance Report, Posted Invoice Register and Posted Payment Register to reconcile Payables activity for the period.