Before creating any Account Payables invoice, carrying out payment entry or voiding any payment it is a prerequisite to open AP Accounting period. Invoices for the future accounting period can be created but they cannot be posted until the status of that period is changed to Open.
Statuses of AP Accounting period
Transactions are possible if the period is in Open status and Accounting of these entries can also be done. But if the period is in adjusting period you cannot open it.
You cannot carry out any transactions if the period is in Never Opened status. All the periods that are not opened any time have Never Opened status.
Once the period is opened it cannot be reversed back to Never Opened.
When the period is in Future status, Invoice entry and Accounting is allowed. But payment entry or payment voiding is prohibited.
Once you change the period from Future to Open, you cannot change it back to Future.
In Closed period transaction processing is not allowed. Closed period can be reopened if the corresponding GL and Purchasing periods are also Open.
Payables periods cannot be closed if any one of the following conditions exist:
- Unaccounted Transactions.
- Transactions that are accounted but not transferred to General Ledger.
- Unconfirmed payment batches.
- Future dated payments for which the Maturity Date is on or before the current date but that still have a status of Issued.
Payables prevents any transactions in period having Permanently Closed status. The period cannot be reopened once it is permanently closed.
Steps to open AP Accounting period
Navigate to the path XX AP Super User → Control Payable Periods
Control Payables Periods screen will open as shown below –
Change the Period Status field from Never Opened to Open and Save it (you can also save by pressing Ctrl + S).
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