Vendor Reconciliation

Compliance & Accounting
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Vendor statement is a statement of account or document from the vendor’s accounting system, listing all unpaid invoices at a specific date. Generally, it comprises credit notes and payments.  

It is reconciled from both account balance company and vendor. If there is any advance to the vendor it will reduce the balance from the company payable amount.



  • Prepare Vendor reconcilation agreement.
  • Supplier statement reconciliation is an opportunity for accounts payable to spot invoice discrepancies before they are paid and to make sure the invoice process is complete. The key is to identify any invoices or credit notes on the supplier statement that are not on the accounts payable ledger or vice versa.
  • The steps in vendor reconciliation are: 1. Getting a statement of account from the vendor. 2. Comparing the statement with the vendor accounts as per the entity's books of account. 3. Adjusting for any difference, which should be separately shown in the reconciliation statement.

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