When creditors processing for the month has been completed, the Creditors End of Month (EOM) rollover can be performed. This ages creditor invoices by one month, moves creditor payments for the month into history, and moves the default Creditors GL period forward one month.
At the end of each financial year, when creditors processing for the year has been completed, you run the Creditors End of Year (EOY) process. The Creditors EOY process initialises the Year to Date fields (Invoices YTD and Payments YTD) in the Creditors Summary Inquiry.