How do I keep Accounts Payable in balance with the General Ledger?
7.1 In order to keep the Accounts Payable open items in balance with the General Ledger control account (the account which appears as Accounts Payable on the APE screen), it is important you establish a daily balancing procedure which is reviewed periodically for accuracy. Each day, after all processing for the day is done, a log should be completed with the following information: prior day ending balance in Accounts Payable, added Accounts Payable transactions, total checks written. 7.2 The total transactions entered are available by running APTRNS for the current day. The balance of this report should equal the total of the adding machine tapes, (separately prepared), of all the invoices entered for the day. Total checks is available from the check registers (APRGSTR). An APOPENP report should be run. Then, use GLU to look up the final balance at the end of the day in the Accounts Payable account. This final balance must equal the calculated balance and the APOPENP report.
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- How do I keep Accounts Payable in balance with the General Ledger?
