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<< Click to Display Table of Contents >> Navigation: MLS 2026 Fully Integrated Accounting > Accounts Payable > Monthly A/P Checklist |
Use this checklist at the end of each payment cycle to keep Accounts Payable accurate, organized, and current.
Consistent processing helps:
•Maintain strong vendor relationships
•Avoid late fees and credit problems
•Keep cash flow predictable
•Ensure accurate accounting records
☐ Post all recently received invoices
☐ Verify vendor account numbers
☐ Enter invoice numbers in Notes
☐ Verify Debit and Credit G/L accounts
☐ Compare vendor statements to Worksheets
☐ Look for:
•Missing invoices
•Duplicate invoices
•Incorrect balances
☐ Resolve discrepancies before issuing payments
☐ Run Summary of Overdue A/P Accounts
☐ Review aging totals
☐ Identify vendors requiring immediate attention
☐ Contact vendors if needed
☐ Document all communication in Notes
☐ Review current cash availability
☐ Prioritize critical vendors if necessary
☐ Verify payment schedule by cycle
☐ Select correct payment cycle
☐ Open Write Checks / Posting
☐ Review invoices carefully
☐ Verify payment amounts
☐ Apply payments to proper invoices
☐ Verify Debit and Credit accounts before processing
☐ Confirm Spread G/L totals balance properly
☐ Verify:
•Check alignment
•Vendor names
•Payment amounts
☐ Confirm checks printed correctly before finalizing
☐ Select Process
☐ Verify payments posted correctly
☐ Confirm vendor balances updated properly
☐ Select Tools → Period Close
☐ Enter correct:
•Payment cycle
•Closing date
⚠️ Use the same cycle and date used during payment processing.
☐ Run Summary of Balances Due
☐ Verify balances and aging totals
☐ Confirm paid invoices moved to history
☐ Run:
•Monthly Totals
•Overdue A/P Report
•Vendor Worksheets (if needed)
☐ Review unusual balances or activity
☐ File:
•Vendor statements
•Worksheets
•Check copies
•Payment documentation
☐ Maintain organized records for:
•Vendor disputes
•Tax reporting
•Year-end accounting
✔ Enter invoices promptly
✔ Review vendor statements before paying
✔ Process payment cycles consistently
✔ Run Period Close after processing
✔ Keep overdue balances low
Following a consistent monthly routine helps:
•Prevent accounting errors
•Avoid vendor disputes
•Protect business credit reputation
•Improve cash flow management
This checklist works well:
•Printed near the accounting workstation
•As a training guide for new staff
•As part of monthly accounting procedures
Well-managed Accounts Payable is not just bookkeeping—it is one of the foundations of maintaining strong business relationships and stable business operations.
Consistent payment practices build trust, improve vendor cooperation, and help ensure long-term financial stability.