Accounts Payable Closing Process is the process of ensuring that all vendor invoices have been reviewed and approved, and all obligations to vendors have been paid in full. It’s an integral part of managing accounts payable and helps protect the company from any potential financial liabilities. The process involves completing the Accounts Payable Cycle — reconciling accounts, legal checks, and final reports. By properly closing accounts payable on a timely basis, companies can better manage their cash flow and ensure accuracy in their accounting records.