This listing can be used to determine your accounts payable balance at any point in the past. If you enter the invoice date as invoices are entered, the system can analyze your history files and determine your accounts payable balance at any point in time. This report can be of great help to your accountant if your books are kept on a cash basis for accounting and an accrual basis for taxes. This report will give your accountant everything he needs to adjust your books to an accrual basis for accounts payable.
This report is most useful in making sure your Accounts Payable balance in the Checkbook system agrees with the accounts payable balance in General Ledger. If you are on an accrual basis, you should print this report for each month end and compare it to the balance of accounts payable in General Ledger.
This report can be run at any time, but will most often be run at month end immediately following Post General Ledger. You will be asked the cutoff date. This would normally be the last day of the year or the last day of the month. Be sure to use MMDDYY format.
You have an option on your menu to dump your history files. If you wish to run this report at year end, be careful not to dump the history that will effect this report.