Vendor Reconciliations Support

What Do You Mean By Vendor Reconciliation?

A vendor statement is a document from the vendor listing all the unpaid invoices and uncleared credit notes and payments. Vendor reconciliation is matching the invoices, credit notes, and payments with that of your accounting system.

Documents Required For The Process:

1. Matching the line items on the vendor’s invoices to your statement
2. Checking off the lines that have already been cross-checked with your records
3. Highlighting any inconsistencies that do not match and make a note of any missing invoices
4. Comparing the total from the vendor’s statement and your accounting system

What Is The Process Of Registration?

1.  Reduces accounting errors
2. Simplifies the process of paying bills
3. Reduces loss of money
4. Identifies unauthorized transactions