Who owns the process of closing AP transactions?

April 25, 2022


Q. Who in your organization owns the process of closing the Accounts Payable transactions to the General Ledger and closing the period on a monthly basis? AP or the GL team? A. (Answered by the IOFM Advisory Panel. We provide a cross section for consideration of different practices of member organizations across the U.S. and Canada. Practices often vary between organizations, and there can be a number of different ways that AP professionals approach challenges or handle their…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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