Vendors send you a statement of what they think you owe. Vendor Reconciliation in Aicountly Smart Books lets you set that statement beside your own books, match the bills and payments, and see the difference. This guide covers the main steps.
Open Vendor Reconciliation
Go to Reports, then Reconciliation, then Vendor Reconciliation. First choose the Vendor from your list of suppliers (the Sundry Creditor ledgers). Then set the From and To / as of dates for the period. The screen opens on the current month.
Import the vendor's statement
- Select Import statement and choose the file. CSV, Excel, PDF and image files (JPG, PNG) are accepted.
- For a CSV file with unusual column headings, pick a saved column layout in the box that says Auto headers, or use Mappings to save one.
- A box called Confirm extracted vendor statement shows each row with its date, reference, narration, debit, credit and type. Fix anything that was read wrongly. Give every row a type such as invoice, payment, debit note, credit note or adjustment.
- Select Confirm and stage to bring the rows in. This only stores the statement rows. It does not create any purchase entries.
If you upload the same file twice, you are told it was already uploaded and its review opens again.
Read the summary
Four boxes show Books balance, Vendor statement, Matched entries and Difference. The difference turns green when the two sides agree. Below them, two lists sit side by side: your books on the left, the vendor's statement on the right. Tabs let you view All, Unmatched, Matched or Ignored rows.
Match the rows
- Auto-match pairs items that are an exact fit and tells you how many it matched.
- For the rest, click one row in your books and one row in the statement, then select Manual match.
- Matched a pair by mistake? Click the statement row and select Undo.
- For a statement row that does not belong, select it and choose Ignore. Use Restore to bring it back.
- If the vendor billed you and you never booked it, select the unmatched invoice row and choose Create purchase bill.
Close the period
Select Start session to begin a reconciliation for the period. Then work through Submit session, Approve and Lock. If a session is submitted while the difference is not zero, you must give a reason, which is stored with it. A locked session can be reopened with Reopen, again with a reason. Formal statement shows the reconciliation proof and lets you export it to Excel or PDF.