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Reconciling the supplier statement of account

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Revision as of 05:01, 29 December 2025 by TJB Jesse (talk | contribs) (Created page with "At the end of each period (e.g. a month) a supplier will likely supply a statement. This statement will usually list invoices and payments (though sometimes can list only outstanding invoices). Regardless of how the statement is presented it is important that this is checked and matches against the information contained within the individual supplier accounts in the payables ledger. If on both ends everything has been record...")
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At the end of each period (e.g. a month) a supplier will likely supply a statement. This statement will usually list invoices and payments (though sometimes can list only outstanding invoices).

Regardless of how the statement is presented it is important that this is checked and matches against the information contained within the individual supplier accounts in the payables ledger.

If on both ends everything has been recorded these should match. This process of matching is called a reconciliation.