Creditor| Vendor Reconciliation by Deepak Gupta-2

In this Video you can learn creditor/ vendor/ supplier reconciliation with a simple example. It is also known as Account's Payable reconciliation.
Understanding of vendor reconciliation:
Accounts Payable/ Creditor’s reconciliation is the process of verifying the accounts of Creditors with the statement of accounts maintained by the respective creditors to ensure that the transactions recorded in the company’s book and the balance matches watches with the books of the creditors. In case of differences, the same should be highlighted and communicated to the respective creditor/s to make necessary corrections for the missing entries in the books of the company or the creditor.

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