AP Monthly Procedures-Detailed

1. Verify that the Sales Month is closed in ICS.
2. Review Month End Setup (PrismCore Admin, Payables Folder). Month End Setup allows you to select a variety of reports with various sort options to be printed, when F2 Month End Reports is selected. At AP General Parameters (PrismCore Admin, Payables Folder), verify the current AP Period.
3. Print necessary reports for A/P reconciliation.
4. Select Options (Criteria) not specified should be left blank.
   1. Detailed Aging Report (Invoice Processing Folder, Select Invoices for Payment) from historic period through current expense period.
      1. Invoice Register (Invoice Processing Folder, Invoice Maintenance) for current expense period excluding prepaid invoices.
      2. Credit Register (Invoice Processing Folder, Credit Memo Maintenance) for current expense period including credit memos paid by check (from vendor), including write-offs.
      3. Check Register (Check Processing Folder, Check Maintenance) for current expense period.
      4. Voided Invoices (Invoice Processing Folder, Invoice Maintenance) for current expense period excluding prepaid invoices.
      5. Voided Credit Memos (Invoice Processing Folder, Credit Memo Maintenance) including credit memos paid by check (from vendor).
      6. Vendor Checks Report (Invoice Processing Folder, Credit Memo Maintenance)
5. Reconcile A/P. The following equation is used for the reconciliation process:
   
6. Purge Accounts Payable. See Detail Section.
7. Run Month End Processing. The current month that will be closed is displayed on this screen
   1. You will be prompted to Are you sure you want to close the month? If this month is correct, press Y.
   2. After processing Month End, the next month will be displayed in AP General Parameters.
   3. This AP Period becomes the default Expense Period in Invoice Maintenance, Credit Memo Maintenance, and Generate Checks.

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