Accounts Payable Month-End process
1. Submit and Review Invoices Validation and On-Hold report.
2. Resolve Holds or Roll over invoices to next month.
3. Submit 'Payment transfer to General Ledger' program to transfer invoice and payment accounting information to GL. This program auto-generates Payables Accounting process request which create all the accounting entries for Oracle Payables.
4. Next reconcile month-end number and sweep any unposted invoice to next month.
5. After reconciliation, close current period and open next period.
6. An AP reconciliation is required to record reconciling items.
Other Adhoc activities which are required to be performed -
1. Perparing all journal entries pertaining to AP transactions, accured AP, and adjustments for AP aging collections.
2. Posting AP transactions to the GL.
3. Reconciling AP accounts to the GL.
4. Verifying current AP aging.
5. Locating and voiding missing checks.
6. Correcting account distribution errors.
1. Submit and Review Invoices Validation and On-Hold report.
2. Resolve Holds or Roll over invoices to next month.
3. Submit 'Payment transfer to General Ledger' program to transfer invoice and payment accounting information to GL. This program auto-generates Payables Accounting process request which create all the accounting entries for Oracle Payables.
4. Next reconcile month-end number and sweep any unposted invoice to next month.
5. After reconciliation, close current period and open next period.
6. An AP reconciliation is required to record reconciling items.
Other Adhoc activities which are required to be performed -
1. Perparing all journal entries pertaining to AP transactions, accured AP, and adjustments for AP aging collections.
2. Posting AP transactions to the GL.
3. Reconciling AP accounts to the GL.
4. Verifying current AP aging.
5. Locating and voiding missing checks.
6. Correcting account distribution errors.
