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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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We have a client that requires an automated system to reconcile their processed AP Transactions in Acumatica with the monthly statements they receive from their suppliers. We have a custom solution in progress that will assist with this requirement.

Currently the requirement is as follows:

  1. Due to our client’s massive AP transaction volume, they want to upload the supplier statements into Acumatica to do an automated recon. 
  2. The solution must then find AP Documents that are processed in Acumatica and identify:
    1. Discrepancies between (original) document values on the supplier statement and AP Documents processed in Acumatica,
    2. Discrepancies between AP Document dates on the supplier statement and AP Documents processed in Acumatica, 
    3. Identify any duplicate or missing AP Documents in both directions.
    4. All the above must be identified using several matching algorithms using several different fields as well as variable characters in matching conditions.

The solution is currently in development, and we will post again when completed. Please note that at this stage the system will only allow the AP Statement to be uploaded using Excel so there will be some manual work required to get your data in a format you can upload. PDF Recognition is not currently supported but can be added on request.

If you are interested and would require more information on the options available, please send an email to support@bleen.co.za.

Do you require an Inventory Aging Report

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I’d probably use Vendor Detail Inquiry AP402000 to excel run a query to compare, of course if your vendors provide their statement in excel as well. 

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