Information

• Don’t change this date manually in AP settings. Use Close Year from the Accounts Payable Tasks menu to close the AP Year
• Running Close Year in Accounts Payable doesn’t close the 1099 year

When you use the Close Year task, Accounts Payable automatically:

• Moves the amounts in This year to Last year for each vendor
• Moves the amounts in Next Year to This year for each vendor
• These moves affect the fields Amount purchased, Discounts offered, Discounts taken, Discounts lost, Miscellaneous deduction paid, and Amount paid
• Updates the Year ending date in the AP Settings with the new year ending date

Verify settings

1. From the Accounts Payable File menu, select Company Settings, AP Settings.
2. Note the Year Ending Date shown in the upper left corner of the AP Settings window.