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In order to reconcile the supplier statements, we have to have the vendor statement and match each item of the vendor statement with our statement.
Match the vendor statements. invoice received and goods received check and reconcile.
A business might have thousands of sales and purchase transactions every day, and errors are easy to make. One way of identifying errors at a relatively early stage is to issue statements.A statement is effectively a printout of a debtor’s account, showing invoices issued, payments received, other adjustments if any, and the balance outstanding. This is sent to the debtor.
