Prior to the closure of books at the end of each reporting period, the detailed total of all accounts payable outstanding is checked with the payables account balance stated in the general ledger. On doing this we ensure that the amount of accounts payable reported in the balance sheet is error-free. The following Solutions are rendered in Vendor reconciliation process.
- Shortened month-end closing process.
- Documented audit trail.
- Vendor aging analysis report.
- All types of AP related reconciliations.
Receipt Not Vouched (RNV) reconciliation report compares the receipt and voucher amounts. It can be very useful to identify the open receipts for the given period. Any discrepancies of the vendor payable can be clarified mostly with this detailing.