Accounts Payable in MLS 2026 is organized around payment cycles.

Each vendor account can be assigned to the payment cycle that best matches how and when that vendor should be paid.

Examples:

•Immediate / cash payment vendors

•Weekly payment vendors

•Monthly payment vendors

•Special-purpose payment groups

The payment cycle assigned to a vendor is completely user-defined and may be changed whenever necessary.

This flexible structure allows your business to organize vendor payments in whatever manner works best for your operation and cash flow.

Why Period Closing Matters

After payments have been processed, the payment cycle should be closed.

During closing, MLS 2026:

•Removes completed transactions from active status

•Moves completed items into history

•Updates balances and aging totals

•Simplifies review of remaining unpaid invoices

Without regular closing:

•Open invoice lists become cluttered

•Aging becomes less meaningful

•Account review becomes more difficult

Performing a Period Close

To close a payment cycle:

1.Select Tools → Period Close

2.Enter the payment cycle to process

3.Enter the closing date

MLS 2026 will process only transactions dated:

•On or before the closing date entered

Important Rule

⚠️ The payment cycle and closing date should match the cycle and date used when writing checks.

This ensures:

•Accurate aging

•Proper historical records

•Correct balance processing

What Happens During Closing

MLS 2026 automatically:

•Updates vendor balances

•Recalculates aging totals

•Moves completed transactions into history

•Clears fully paid activity from active status

No additional operator action is required.

Payment Cycles Are Independent

Each closing applies only to the selected payment cycle.

If multiple cycles are used:

•Each cycle must be closed separately

Examples:

•Weekly vendors → Weekly closing

•Monthly vendors → Monthly closing

•Special vendors → Separate closing

Why Multiple Cycles Are Helpful

Using multiple payment cycles:

•Reduces large batch processing

•Improves organization

•Helps manage cash flow

•Allows vendors to be grouped logically

Even businesses paying vendors on the same day often benefit from separate cycles.

Best Practices

•Close payment cycles promptly after payments are processed

•Use consistent closing dates within each cycle

•Keep vendor cycles organized logically

•Review open invoices before closing

Example Workflow

SELECT PAYMENT CYCLE
        ↓
PROCESS PAYMENTS
        ↓
PRINT CHECKS
        ↓
RUN PERIOD CLOSE
        ↓
MOVE COMPLETED ITEMS TO HISTORY
        ↓
BEGIN NEXT PAYMENT PERIOD

Period Accounts Payable Closing