Vendor Account Reconciliation

What is Vendor Account Reconciliation?

Questions by nuruddins

Showing Answers 1 - 4 of 4 Answers

rish2010

  • Mar 3rd, 2010
 

Also known as Supplier or Creditor Reconciliation - balancing a suppliers/vendors statement against your cash book/GL for all payment/invoices paid. Difference of which will result in either unpaid invoices, due credit notes, overpayment, interest charged on unpaid a/c's etc.

Kannan

  • Mar 6th, 2012
 

Vendor reconciliation means statement showing difference of Company payable to vendor account balance & vendor outstanding balance.Vendor reconciliation refers to finding out the reason of difference (open items) and resolution of the same.

  Was this answer useful?  Yes

khalid

  • Dec 5th, 2012
 

Vendor reconciliation is A statement received from vendor which contains details of invoices of that vendor for a perticular period, vendor wants to confirm that these invoices has been paid or not, the balance vendor has open for this invoices shoudl match the payment made to that vendor.

  Was this answer useful?  Yes

Ashok kumar

  • Jan 3rd, 2013
 

Vendor reconciliation statement means a valid balancing to vendor invoice statement to company General Ledger statement for a particular period. If any difference occurs it means that should be unpaid invoice payment or over payment or interest on late payment etc.

  Was this answer useful?  Yes

Give your answer:

If you think the above answer is not correct, Please select a reason and add your answer below.

Answer Question

Click here to Login / Register your free account


 
Send   Reset

 

Related Answered Questions

 

Related Open Questions