Open Periods in the AP Calendar

Payables periods are different from General Ledger periods. For example, you can close the March period in AP before you close the March period in General Ledger.

Payables provides for invoice entry,payment entry, and payment voiding in open accounting periods. You can enter invoices in Future accounting periods, but you cannot post any invoices in Future accounting periods until the status is changed to open. The period statues available in payables are Never Opened , Open , Closed and Permanently Closed.

When you update a period status to Closed, Payables automatically checks whether you have any unposted transactions in their period. If you have any unposted transactions in a period you are trying to close, Payables prevents you from closing the period and automatically submits the Unposted Invoice Sweep report. You can use this report to view all your unposted transactions for the period. You can submit the Unposted Invoice Sweep program if you want to move all unposted transactions from one period to another. Then close your period.