1.         Purpose

 

To remove prior year transactions from the creditors ledger.

 

2.         Scope

 

This procedure applies to all creditors transactions in the accounting system.

 

3.         Responsibilities

 

The Treasurer shall have overall supervision of the creditors’ transactions archiving.

 

4.         Procedure

 

The Treasurer shall archive creditors transaction each year, transactions relating to periods prior to February of the previous year shall be archived.

 

4.1       Archiving Process

 

The Treasurer shall select a suitable day to run the archiving process.  A suitable time would generally be in the second quarter of the year.