Skip to main content

Reconcile customer and vendor balances

Agree the company, counterparty, cutoff period and currency with the statement being reconciled. Identify the current settlement mode.

Start at Treasury > AR/AP reconciliations.

Procedure​

  1. Open AR/AP reconciliations and create a reconciliation manually or through the assistant. Use the current supported document, not a older document type merely because it is visible.
  2. Set company, counterparty, contract/settlement scope, period and report currency. Include opening balance and the intended movements.
  3. Fill receipts/shipments, payments and adjustments. Compare document numbers/dates and currency amounts with the counterparty statement.
  4. For an unmatched payment inspect its actual settlement object and breakdown. A payment-purpose reference or Payment Basis is not by itself the allocation used by all reports.
  5. Investigate missing/duplicate documents, wrong period, wrong currency or incorrect allocation before recording an adjustment.
  6. Record agreed discrepancies and obtain confirmation through the company’s reconciliation process. Re-run balances after approved corrective documents.

Check the result​

Opening balance plus movements equals closing balance on both sides or every difference has a documented explanation.

If the result differs​

Statement differs: compare opening balance, period, currency and missing/duplicate documents. Payment is unallocated: inspect settlement detail and payment breakdown before adjusting debt.