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How to Reconcile Vendor Statement of Account

  • 28 August 2021
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Does Acumatica have a build-in tool to reconcile a Vendor Statement of Account? 

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Best answer by TimRodman 30 August 2021, 18:15

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Are you looking to reconcile the total AP Balance to the GL or an individual AP Vendor Balance to something?

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Individual vendor.When we get a Vendor Monthly Statement, our office manager is spending too much time (and with mistakes) comparing our open and paid invoices with the open and paid invoices on the Vendor Statement.  I was hoping acumatica had a tool like credit card or bank statement reconciliation for Vendor Statements.  

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Ah, interesting. I’m not aware of anything in Acumatica that does that, but it seems like it could be a good job for Excel, flagging missing transactions with Conditional Formatting.

Individual vendor.When we get a Vendor Monthly Statement, our office manager is spending too much time (and with mistakes) comparing our open and paid invoices with the open and paid invoices on the Vendor Statement.  I was hoping acumatica had a tool like credit card or bank statement reconciliation for Vendor Statements.  

I have the same needs. We have some vendors who routinely apply payments on their end differently than we have them applied on our end so we end up with discrepancies that need resolved before the next months bill is paid. It would be very helpful to have a way of marking individual bills and adjustments as “reconciled” or something similar and have the ability to filter by that parameter when preparing payments.

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