Good Morning,
I have done year end before so should know the answer to this ...but apparently I am second guessing myself. I realized that the new fiscal year can be opened in the GL anytime now..our year end is March 31st. Can I continue to enter batches in AP for the current year and the new year before I actually run the year end function in AP? I know if I have both years open in the GL batches will post to the correct fiscal year, just not sure about the timing of the year end function in AP. Thanks

Hi Deb

The timing of year-end in AP is always tricky because there's never a clean cutoff. Running year-end has no effect on entering transactions dated in the prior year. Since it doesn't really matter anyway, I would suggest you time the year-end to be after your last check run, which is something you have control over.

Steve

Thanks Steve,
That's what I thought, However, I think I can wait until all March invoices are in and still enter April invoice batches and retrieve to the GL. Then run the year end function with a March 31st date? Then I would have an open payables summary that would include the March invoices. Make sense?

The only thing that Year End does in Payables is reset the batch numbers and YTD statistics.

Hi Deb

Year-end processing is totally unrelated to the Open Payables report. Andrew's reply says it all.

I would not wait until all March invoices are in. I would run Year-end once the last check run is done for March.

Steve

The AP Year-End process also has a negative effect - it purges the posting journals. It's important to print the PJ reports to PDF for future review.

Hi Bruce,

Well, of course I would have expected that ePrint would have taken care of that for you!