What are Supplier Reconciliation Statement means?
The reconciliation is used to check that you have correctly entered all of your supplier invoices onto your system and not made any errors or missed any off. Basically, your suppliers will send a statement at the end of each month detailing all of the invoices that they have sent you and also showing any that are still awaiting payment from previous months. You use this to check your records and make sure that everything agrees. This saves a lot of hassle in the long run and ensures that your accounts are correct.
