Accounts Reconciliation Blog

Business is highly competitive and requires lots of paperwork. Paperwork is necessary to avoid mistakes. Take for example accounts payable. Accounts payable is money due to your suppliers. Before making payment to anybody, the proper paperwork should be done. Here are the usual accounts payable procedures.

First check your company’s purchase order to your supplier. Then reconcile it with the sales invoice from your supplier. Make sure there are no discrepancies. Make sure your company receives the item you ordered. Make sure it’s the right item. If both purchase order and sales invoice tally, then you can start the process of preparing the check for payment. Once you released the check payment and it cleared, then you can take out that supplier from your accounts payable list.