Overview
The Monthend Procedures menu contains the tools used to complete the A/P period close: reconcile payments to the bank statement, print supporting reports, and lock the period once review is complete. It also includes periodic maintenance options such as purging older A/P data and processing 1099 reporting.
Month-End Close Workflow
- Bank Reconciliation — mark checks/ACH activity as cleared based on the statement cutoff.
- Bank Reconciliation Report — print cleared/uncleared/missing/voided/ACH support.
- Close A/P Period — lock the period after reconciliation and review.
Periodic / As Needed
- Bank Statements Report — bank-statement style outputs (if enabled in your environment).
- Purge A/P Files — archive/purge older items per retention policy.
- Process 1099’s — year-end vendor reporting support.
- Bank Transfer — record/report transfer activity (if used by your workflow).
Bank Reconciliation
The Bank Reconciliation screen is used during month-end (or statement-end) to match FasTrax A/P check activity and cash receipt activity to a bank statement. It helps you confirm what has cleared, what is still outstanding, and whether the statement balances to the totals recorded in the system.
This function is typically used together with the Check Reconciliation Report and the Bank Reconciliation Report (menu items in Monthend Procedures). The reconciliation screen is the working area where you load a statement and mark cleared checks/receipts.
Checks Sub-Screen
The Checks sub-screen lists checks included in the reconciliation period and allows you to mark each item as cleared. Use this list to match cleared checks to the bank statement and identify outstanding (uncleared) checks that should remain open.
Typical Columns
- L# — line number in the reconciliation list.
- Check Number — the issued check number.
- Check Date — date the check was issued.
- Check Amount — check dollar amount.
- Re — reconciled flag (typically Y/N).
- Statement Amnt — amount matched to the statement (often equals check amount).
- Difference — variance between system amount and statement amount (should be 0.00 when matched).
Receipts Sub-Screen
The Receipts sub-screen lists deposits/cash receipts included in the reconciliation period. Use it to mark deposits as cleared and to validate the bank’s deposit totals against what was recorded in the system.
Typical Columns
- L# — line number in the receipts list.
- Jrnl Number — receipt journal number.
- Jrnl Date — receipt date/posting date.
- Jrnl Amount — deposit/receipt amount.
- Re — reconciled flag (typically Y/N).
- Statement Amnt — amount matched to the statement deposit line.
- Difference — variance between system amount and statement amount (should be 0.00 when matched).
Bank Reconciliation Report
Bank Reconciliation – Statement Report
The Bank Reconciliation – Statement Report provides a historical listing of bank statements that have been created during the reconciliation process. It summarizes total checks, cash receipts, service charges, interest, and item counts for each statement period.
This report is typically used during month-end review and audit preparation to verify which bank statements have been reconciled, posted, or remain un-posted prior to closing the Accounts Payable period.
Unlike the interactive Bank Reconciliation screen, this report is read-only and is intended for reporting, review, and documentation purposes.
Report Options
- Bank Number – Select a specific bank code or choose All to include all banks.
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Report Option
- Un-Posted – Shows bank statements that have not yet been posted.
- Posted – Shows bank statements that have already been posted.
- Starting / Ending Date – Limits the report to statement dates within the selected range.
Report Output
Each row in the report represents a single bank statement period and includes:
- Statement date range
- Total check amount
- Total cash receipts
- Service charges and interest
- Number of checks and receipts included
This summary allows accounting staff to quickly confirm that all expected statements exist and that totals align with reconciliation activity and the general ledger.
When to Use This Report
- Confirm which bank statements have been reconciled or posted
- Review statement totals prior to closing an A/P period
- Provide audit support for month-end or year-end reviews
- Validate reconciliation completeness across multiple banks
Close A/P Period
The Close A/P Period function allows an organization to formally close an Accounts Payable accounting period, preventing additional A/P transactions from being posted into that period.
This process is typically performed as part of month-end procedures after bank reconciliation, reporting, and management review have been completed.
FasTrax supports independent period control across modules, allowing Accounts Payable to be closed without necessarily closing Accounts Receivable or the General Ledger.
Module Closing Behavior
- Closing A/P closes only the Accounts Payable period and does not automatically close Accounts Receivable or the General Ledger.
- Closing G/L automatically closes both Accounts Receivable and Accounts Payable for the selected period.
- This design allows organizations to complete A/P processing while leaving other modules open for continued activity.
Screen Overview
The Close Period screen displays a chronological list of accounting periods, including:
- Period number and date range
- Closed status (Y/N)
- User who performed the close
- Date the period was closed
Users may navigate through prior periods to review historical close activity or select the current open period to perform a close.
Re-Opening Periods (Use Extreme Caution)
The system allows previously closed A/P periods to be re-opened if necessary. This capability exists to support corrections, late adjustments, or audit requirements.
Extreme caution should be exercised when re-opening a closed period. Re-opening may impact financial reports, reconciliations, and audit integrity.
- Re-open periods only with proper authorization
- Document all changes made after re-opening
- Re-run reports and reconciliations after adjustments
- Re-close the period immediately once corrections are complete
Best Practices
- Complete bank reconciliation and statement review before closing A/P
- Run A/P aging, audit journals, and reconciliation reports prior to closing
- Ensure no pending checks or adjustments remain unposted
- Limit period re-opening to senior accounting staff only
Accounts Payable Purge
The Accounts Payable Purge utility permanently removes historical Accounts Payable data prior to a specified purge date. This process is designed to reduce database size and improve system performance after long retention periods.
This function should not be executed without prior management approval or consultation with Advanced Transportation Systems (ATS). Unless a proper History Account is entered the Purged data cannot be recovered once the process is completed.
This utility is typically performed only during major maintenance cycles and is not part of routine month-end processing.
Purge Criteria
The purge process is controlled by a purging date. All A/P records dated prior to this date are eligible for removal.
- Purge Date determines the cutoff for historical data
- A History Account Name is required for retained summary balances
- The system records the last purge date and user for audit reference
What This Process Does
When executed, the Accounts Payable Purge performs the following actions:
- Purges detailed accounting transaction history
- Rebuilds Accounts Payable summary files
- Purges historical check records
- Purges A/P balance files
- Purges A/P audit journal files
These actions permanently remove historical detail while preserving summarized balances for reporting continuity.
Warnings & Approval Requirements
Extreme caution is required when using this function. Once data is purged, it cannot be restored from within the system.
- Obtain written approval from accounting management before running
- Confirm all audits and reporting for the period are complete
- Ensure regulatory and retention requirements have been met
- Contact ATS support if there is any uncertainty
Best Practices
- Perform a full system backup prior to purging
- Run final A/P aging, audit journals, and reconciliation reports
- Document the purge date, purpose, and approving authority
- Limit access to this function to senior accounting or IT staff
Process 1099’s
The Process 1099’s menu is used during year-end Accounts Payable processing to generate, review, adjust, and print vendor 1099 forms. This menu guides users through the complete 1099 workflow—from building annual totals to producing final printed forms.
Access this menu after all AP activity for the tax year has been finalized and reviewed. It is recommended that the 1099 Proof Report be carefully examined and approved before printing final 1099s.
Open Process 1099’s Menu →Bank Transfer
The AP Bank Transfer function is used to move funds between two bank accounts within the Accounts Payable system. This process supports transferring a_hook type="_mce_tag">specific dollar amount, transferring checks within a date range, or transferring specific checks.
Bank Transfers are commonly performed during month-end to move funds between clearing, trust, and operating accounts while maintaining a complete audit trail.
When a bank transfer is posted, the system automatically:
- Creates a Check Register entry for the Bank From account
- Creates a corresponding Receipts file entry for the Bank To account
Field Descriptions
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1. Transfer From Bank#
The bank account from which funds will be withdrawn. This account will receive a Check Register entry when the transfer is posted. -
2. Transfer To Bank#
The bank account receiving the funds. This account will receive a Receipts entry reflecting the incoming transfer. -
3. Type of Transfer
Determines how the transfer amount is calculated:- A – Specific Amount: Enter a single dollar amount to transfer.
- B – Checks by Date Range: Transfer the total of all qualifying checks within the specified start and end dates.
- C – Specific Checks: Select individual checks to include in the transfer.
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4. Amount to Transfer
The dollar amount being transferred. This field is used when the transfer type is Specific Amount and may be system-calculated for other transfer types. -
5. Transfer Date
The effective date of the transfer. This date controls the posting period and appears on both the Check Register and Receipts records. -
6. Transaction Number
A reference number used to identify the transfer for reconciliation and audit purposes. -
7. Transfer Description
A free-form description explaining the purpose of the transfer. This description appears in inquiry screens and reports. -
8. Starting Date
The beginning check date used when transferring checks by date range. This field is only applicable when using the Checks by Date Range transfer type. -
9. Ending Date
The ending check date for date-range-based transfers. -
10. Checks to Transfer
Used when selecting Specific Checks. Allows the user to identify which individual checks should be included in the transfer.
The Checks by Date Range and Specific Checks transfer options should be used only when one or more checks were printed using an incorrect bank code at the time of check printing.
These options are intended to correct bank assignment errors—not for routine cash movement. When transferring by date range, extreme caution should be taken to ensure that checks which were properly printed to the correct bank are not unintentionally included in the transfer.
It is strongly recommended to review the affected checks prior to posting and to document the reason for the correction for audit purposes.
Tips & Best Practices
- Reconcile throughout the month. Don’t wait until month-end — run reconciliation reporting periodically to catch missing/voided checks early.
- Keep a close package. Save/print reconciliation reports and period close confirmations for audit support.
- Control access. Restrict “Close Period” and purge functions to accounting supervisors.
Frequently Asked Questions
When should I close the A/P period?
Close the period only after the bank reconciliation is complete and supporting reports have been printed/saved. Once closed, postings for that period should be restricted per your accounting controls.
Why do I see uncleared checks that the bank shows as cleared?
Most discrepancies come from cutoff date differences, late bank posting, check number range mismatch, or missing/voided check sequences that require investigation.