Accounts Payable (AP) Typical Cycles

Enter Accounts Payable Invoices:

  1. Enter Invoices (AP30)
    • Enter AP invoices and adjust certain fields of posted AP invoices.

  2. Invoice Audit Trail Report (AP31)
    • Print to show all transactions in AP batch.
    • Entering acceptance codes posts to the G/L and clears out the batch.
    • The AP Audit Trail must be kept in a safe place for future reference.

Process Computer Checks:

  1. Cash Requirement Report (AP40)
    • Print to analyze which vendor invoices are due to be paid (according to parameters entered).

  2. Alter Cash Requirements Report (AP41)
    • Adjust/add/delete vendors' invoices from list of items to be paid.
    • Must reprint AP40 (format 2) to review changes made in AP41.

  3. Print AP Checks (AP42)
    • Print to produce checks for AP invoices designated to be paid in AP40.

  4. Computer Check Register (AP43)
    • Print to show all invoices paid by checks run in AP42 batch.
    • Entering acceptance codes posts to the G/L and clears out the batch.
    • Must be kept in safe place for future reference.

Process Manual Checks and Adjustments:

  1. Enter Manual Checks/Adjustments (AP50)
    • Enter manual payments, wires, transfers and adjustments.

  2. Manual Check Register (AP51)
    • Print to show all manual payments and adjustments.
    • Entering acceptance codes posts to the G/L and clears out the batch.
    • Must be kept in safe place for future reference.

Supporting Inquiries:

  1. Display Vendor Accounts (AP45)
    • Query vendors, open payables, payables from history.

 
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