Information Systems:Auditors - Accounts Payable

Go to InfoNet / Finance / Summarize/Extract A/P Transactions.

An account balance can be calculated for any period by summarizing all transactions up to that point. Note that the 'Remaining Amount' on this display is only correct for the current moment.

Key in a starting fiscal period that is older than any accounts payable transaction, and for ending period, the period for which you want the balance. Summarize by supplier (we are not using 'payee'), and do not include preliminary invoices. Click on the search button.

The total 'Original Amount' should agree with the G/L.

*VA/480B*  G/L transaction enquiry                   1/27/16 12:27:57 FMR01702 
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Rec.    Bal.per/amount 1512      6426526.10- CAD    Total sel.                 
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  Main   Grou Subg Cost Pro             Vou  no Vou dt Vt  System Amount   Per 
  210000                                6000005 040108 76       44302.47   0903
  210000                                4000157 040108 40         117.67   0903
  210000                                4000158 040108 40        4431.39   0903
  210000                                4000159 040108 40           4.48-  0903
  210000                                4000159 040108 40       30199.31   0903

If it doesn't, the Analyser file will have to be rebuilt.

Click on 'Summary to Excel' - be careful NOT to click on 'Detail to Excel'; as of January 2016 that would be almost seven hundred thousand records!