Payables Calendar Year Close

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Posted on by Pam C

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I've been changing the User Date before closing the calendar year in Payables to 12/31/__, but I'm wondering if the System Date needs to be changed as well to the 12/31 date? Or is it okay to remain at whatever date you are completing the calendar year close?

Thanks for your help.

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L Vail 65,271 on at

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RE: Payables Calendar Year Close

Changing the date has no impact on the close except that it records it. As far as the data is concerned, it really doesn't matter. If you go into Payables Setup and look in the lower left-hand quadrant of the window you should see a drop down entitled Summary View (or something like that), change the setting from Amounts Since Last Close to Fiscal or Calendar. In the past, we had to make sure we actually hit the close button on 12/31 or our 1099s would be wrong. It didn't matter what date you put in the box (and still doesn't), the close was going to happen the day you clicked the button. The data close does not go out and read the dates off of the invoices, that's what the view is for.

So, it's A-OK to leave the date alone.

Kind regards,

Leslie