Daily and Monthly Operations

Guide to Daily and Monthly Operations

This chapter contains the following topic:

Use the following checklists to see how to use Accounts Payable to perform periodic and daily tasks. Adjust the checklist as necessary to meet your own needs. Consult with your accountant on organizing your checklists to ensure the efficiency and security of your business operations.

Daily Operations Checklist

Each Day	Each Day As Needed
Enter new vendors using Vendors menu. For more information read the Vendors chapter.
Enter payables using Payables. For more information read the Payables chapter.
	Inquire into current payables activity, using View open items. You may read more about this in the View Open Items chapter.
	Inquire into partially or fully paid open items using View vendor invoices. This selection is only available if you are using vendor history.You may read more about this in the Viewing Vendor Invoices section of the Vendor History chapter.
	Enter new recurring payables transactions using Recurring payables. There is more information in the Recurring Payables chapter.
	Select recurring payables for use using Select for use.
	Copy selected recurring payables to the Payables Transaction File/Table using Use selected.
Post payable transactions.
	Print the Non-A/P Manual Check Register to obtain a register of all manual and non-A/P checks. (If this register is not printed prior to posting computer checks, all manual and non-A/P checks will appear on the computer check register the next time you print and post checks.)
Select vouchers for payment using Prepare payments. See the Selecting Vouchers for Payment section of the Prepare Payments / Checks and ACH chapter for more information.
Print the Cash Requirements Report to determine which vouchers are due to be paid. Read more about this in the Cash Requirements chapter.
Print checks and post using Print checks and post. The Print Checks (Process Direct Deposit ACH) and Post section of the Prepare Payments / Checks and Direct Deposit chapter has more information
	Void checks (after posting) using the Void checks menu selection. This selection may only be used if you are using vendor history. Read the Void Checks chapter for more information.
	Change the due dates of vouchers using Modify. For more information read the Modifying Open Items section of the Open Items chapter.
	Mark vouchers as manually paid using Modify.
	Post Modify transactions.
	Print an Aging Report using Aged open items. Read the Aged Open Items chapter for more information.
	Print a Cash Disbursements Report using Cash disbursements. This report can assist you to estimate your cash needs based upon payable that are coming due in future weeks. Read the Cash Disbursements Projection chapter for more information.
	If you are interfaced with Purchase Order, enter vendor purchasing addresses using Purchasing addresses. Read the Purchasing Addresses chapter for more information.

Periodic/Monthly/Yearly Operations Checklist

Each Period	Each Period, As Needed
Print the Open Payables by Date Report. Print this report as of your period ending date. This report will show all payables outstanding as of the period ending date (even if they have been paid since the end of the accounting period.) This report should tie out to your A/P account balance in General Ledger. (This report may only be printed if you are using vendor history.) Read the Open Payables by Date section of the Vendor History chapter for more information.
Print a monthly check register using Check register. (This report may only be printed if you are using vendor history.)
Print the Payables Distribution to G/L Report(from Earliest to the last date of the accounting period) to get a list of the distributions to G/L. If you are not using G/L, you may back up your data and then purge the distributions when you print the report. If you are using G/L do not purge the distributions at this time.
If you are using G/L, back up your data files/ tables and then run Get distributions in the G/L module to pull the distributions from A/P into G/L. Follow the procedures described in the G/L User documentation. You may purge the distributions when running this selection in G/L. If you encounter any system difficulty (e.g., power failure) while running Get distributions, restore your backup and repeat this procedure.
	Print the Purchases/Discounts Report to obtain a comparison for each vendor of purchases year-to-date as compared with last year. Read more about this in the Vendor Purchases and Discounts chapter.
Purge fully paid open items using Purge open items. Once a fully paid open item has been purged from the system, it can no longer be voided using Void checks. Thus, you should only purge a fully paid open item when you no longer expect that the check which paid the open item will have to be voided. The Purge Open Items chapter has more information.
Purge temporary vendors using Purge temporary vendors. The Purge Temporary Vendors chapter has more information.
Temporary vendors who are no longer referenced in the system will be purged from Vendors.
Purge vendor history. Once vendor history is purged, it is no longer accessible to you. Thus, you should retain history at least as long as needed for normal operations. When you purge, a report is printed for all items purged to allow you to retain a permanent record of this information. The Purging Vendor History section of the Vendor History chapter has more information.
Run Close a period. The Close a period selection enables you to clear the period-to-date Payment, Purchase, and Discount fields in Vendors. This will update the Vendors at the close of a period and clear current amounts. Close a period also allows you to close the A/P year. See the Close a Period chapter for details.
	At year-end for appropriate vendors, print 1099 forms and a 1096 summary form. You may also run the electronic filing of 1099s. Following 1099 processing run Close a year for 1099s. See the 1099 Year-end Processing chapter for instructions on processing your 1099s and closing your 1099 year.