Close a summary—Accounts Payable

From the Close AP subledger page, you can close an open summary either by period or by summary name. Closed summaries can later be reopened. Summaries of manual payments are automatically closed.

After you close a summary, you cannot post transactions to it until you reopen it. This prevents you from posting transactions to the wrong period. (The system uses the summary date as the posting date for almost all transactions.)

1. Go to Accounts Payable > All > Subledger > Close.
2. If you are at the top level, select an Entity or entity group.
3. You can close summaries in one of two ways:
   • By date: select To the end of period, and then select a standard period such as Month Ended January 2013, First Quarter 2013, and so on.

     The system closes both AP supplier invoice summaries and adjusting summaries.

   • By name: select Close a single summary, and then select the name of the summary you want to close.
   When you close a subledger for a period, the system does not close open subledgers from previous periods. For instance, if you close subledgers for Q3 and have not closed Q2, Q2 remains open.
4. Select Close.

Field descriptions

Close summaries field descriptions

Field	Description
Close subledger from	The start date from which you have open summaries.
To the end of period	Accounting period you want to close. If you don't see any reporting periods in the dropdown, create the applicable reporting periods. Reporting periods must be created each year.
Close a single summary	The open summary that you want to close.