Vendor Account Reconciliation

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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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.

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.

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.