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Payables Year End Close

  • 1.  Payables Year End Close

    Posted 12 days ago
    Our AP department posted 2021 batches before closing the year. How does that affect the Payables subledger and GL year end close? Will manual 1099s be required for any contract vendors? Is there a way this can be undone?

    TRACEY Stewart - Powell
    Riverchase Dermatology and Cosmetic Surgery
    Fort Myers FL
    Academy - Online Interactive Learning from Experts

  • 2.  RE: Payables Year End Close

    Posted 11 days ago
    The Year-End Close for AP does not affect the GL or the amounts on the 1099's printed from GP. It does however affect the amounts that show in YTD and LYR in SmartList for Vendors. That is because YTD fields show "Amount Since Last Close" in SmartList.

    I wrote a blog post about processing 1099's this is a link:

    Let me know if this helps!

    Amber Bell
    Training Dynamo LLC
    Twitter: @trainingdynamo

    Academy - Online Interactive Learning from Experts

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