Processing invoices received during month-end close

December 22, 2020

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Q. We close AP on the 3rd business day of the month. If an invoice is received during that time and is dated for the current month but pertains to services provided in the prior month, which period should it be posted in? Example: invoice dated February 1st, for services provided in January, not closing AP until February 3rd.  A. (provided by the IOFM Advisory Panel): ----- I usually accrue the invoice’s effective date to the month which services were provided as far as it’s not closed, still…

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