Vendor Statement Reconciliation
Are you getting statements from your top vendors? Are your payments applied to the correct invoices? Are you charged with the late fees on the statements? Do not let yourself struggle with the dispute merely due to the fact that your statements are not reconciled on time and avoid any undue late fees. Now your team can focus on issuing 1099 forms on due dates and meet deadlines of annual returns.
What we do in Vendor Statement Reconciliation?
We reconcile all vendor invoices and the payments issued to them considering all applicable discounts / returns and update the vendor periodically for any difference in the ledger. We coordinate with the vendor's Accounts Receivable team for any required correction.