Closing invoice distributions

To transfer released invoice distributions to the general ledger, you need to close your invoice distributions. You can do this at any time after you release invoices, but you must do it at least once in an accounting period. The closing process changes distributions to a historical status.

For retainage invoices, distributions are split between the retainage amount (accrued to the retainage accrual code) and invoice amount less the retainage (accrued to the AP accrual code). The retainage accrual code is on the distributions with retainage. The offset to these distributions go to the general ledger account attached to the retainage accrual code. The invoice distributions, however, are posted to the general ledger account attached to the AP accrual code.

Process distribution closing

  1. Run Invoice Distribution Closing (AP175).
  2. Specify this information:
    Company

    Specify or select a valid accounts payable company number.

    Company Group

    Specify or select a company group. A company group represents one or more companies. If you select a company group, leave the Company field blank.

    Process Level

    To include distributions associated with a specific process level, specify or select a valid process level for the company.

    Account Structure

    Select how you want to run distributions, Company only, Company/Process only, or Company/Account Structure.

    Post Through Date

    Invoice distributions with a posting date less than or equal to the Post Through Date you specify are transferred to the general ledger.

    Update General Ledger

    Select Yes to transfer released invoice distributions to General Ledger and change their status to historical. To perform a test run of this program, without updating General Ledger, select No.

  3. Optional. Standard cost companies can run Standard Cost Calculation (PO139) to create a reversing journal entry for the difference between the purchase order cost and the standard cost for inventory items. For information, see the Purchase Order User Guide.
  4. Run Invoice Accrual Reconciliation (AP136) to reconcile to General Ledger. This program lists the difference between what has been paid (using AP170) and what has been expensed (using AP175).

Related reports and inquiries

To Run
Audit posted transactions by period for a specific accounting unit and account Departmental Procurement Expense Inquiry Selection (MM80)
Related topics