FAQ
Inventory Reconciliation FAQS
1. What is Vendor Reconciliation Account?
A vendor reconciliation account is a balance sheet account found in the general ledger. This account is used to précis the transactions found on the accounts payable sub-ledger and is also referred to as a control account.
2. How to Reconcile Payables?
Reconciling your accounts payable must be done each month. Regularly balancing your accounts will keep them up to date and assistance to avoid inconsistencieswith vendors. Each vendor must be reconciled individually to benefit maintain your proper account balance. In addition, it is stress-free to find and exactmistakes when you balance one account at a time.