A/P Year End Procedure

Use this utility to close a year. When you select this option, the system updates the Vendors form records to reflect the change of year, and then sets the following values:

  • Purchases Last Year to Purchases YTD
  • Purchases YTD to zero
  • Discounts Last Year to Discounts YTD
  • Discounts YTD to zero
  • Payments Last Calendar Year and 1099 Payments Last Yr to Payments Calendar YTD and 1099 Payments YTD
  • Payments Calendar YTD and 1099 Payments YTD to zero
  • Payments Last Fiscal Year to Payments Fiscal YTD
  • Payments Fiscal YTD to zero
Related topics
Accounts Payable Steps