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Vendor Account Reconciliation

What is Vendor Account Reconciliation?
Asked by: nuruddins | Member Since Dec-2009 | Asked on: Dec 29th, 2009

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Answered On : Mar 3rd, 2010

View all answers by rish2010

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.

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Answered On : 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.

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Answered On : 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.

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Ashok kumar

Answered On : 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.

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