Accounts Payable workpaper (ACP)

The Accounts Payable (ACP) workpaper reconciles outstanding creditor balances at year end and feeds the GST on Accounts Payable balance into GST Reconciliation. Like ACR, it handles two scenarios: Xero-based extraction, and client-provided source data.

Data extraction, Xero Accounts Payable

●       Description line reads "As per Aged Payable Report."

●       If the client is not GST registered, this is flagged on the workpaper directly, otherwise left blank.

●       Gross figure is picked from the Total row of the report.

●       GST figure is picked from the Outstanding GST column, Total row.

Data extraction, client provided source data

When a client provides payables as handwritten notes or informal documents (for example a list of amounts against supplier names), the description and amount are taken as given, but the account code needs to be identified from the profit and loss based on what the supplier actually supplies. For example:

●       Redpath Limited = Purchases

●       Kennards Hire = Hire Expenses

●       EPA Business = Accountancy

●       Lighting Plus = Power Expenses

●       Spark = Telephone

If the client is not GST registered, this is entered as "N" against the row, otherwise left blank.

Manual journals

Any journal posted to an account code mapped to Accounts Payable in CoA Mapping appears in the workpaper as a new line item.

Balance per GL

Sum of all account codes mapped to Accounts Payable in CoA Mapping.

Related workpapers

●       GST Reconciliation (GRC): pulls the Accounts Payable balance from this workpaper.

How to access

●       Go to Jobs and open the relevant job.

●       Click the Workpapers icon or navigate to Job Results then Workpapers.

●       Select ACP on the Workpapers Dashboard.