Who is responsible for year-end accruals?
Accounts Payable (AP) will accrue costs according to Goods Recieved Notes (GRNs) received for those departments who are working to the new procurement-to-payment processes. However, this will only relate to those purchases paid by AP on invoice. Departments will continue to be responsible for accruing all spend made using their purchasing cards. Details of year-end instructions and deadlines will be issued by Finance as year-end approaches, and these must be followed. They will include any specific arrangements for those departments who are working to the revised procurement-to-payment processes.
