Hr Job TrainingHr Job TrainingHr Job Training
Karnataka
(91) 890 44 13017
Kadavanthra

Reconcilation Of A/cs & Balance Confirmation

Hr & Admin

Reconcilation Of A/cs & Balance Confirmation

A vendor statement is a document from the vendor’s accounting system listing all unpaid invoices at a certain date. It can also contain other uncleared items such as credit notes and payments. Reconciliation of this vendor statement requires matching the invoices and other lines to documents from your own system. Unmatched documents are discrepancies and comprise the vendor statement reconciliation report. The vendor statement reconciliation is the litmus test at the end of the procure to pay process. It identifies the issues between your system and your vendor’s accounts. A single clear report will reduce vendor queries, improve your vendor relationship and tighten your control over vendor spend.