A/P Year End Procedure

Use this utility to close a year. When you select this option, the system updates the Vendors form records to reflect the change of year, and then sets the following values:

• Purchases Last Year to Purchases YTD
• Purchases YTD to zero
• Discounts Last Year to Discounts YTD
• Discounts YTD to zero
• Payments Last Calendar Year and 1099 Payments Last Yr to Payments Calendar YTD and 1099 Payments YTD
• Payments Calendar YTD and 1099 Payments YTD to zero
• Payments Last Fiscal Year to Payments Fiscal YTD
• Payments Fiscal YTD to zero