{"id":1269,"date":"2021-08-04T05:49:11","date_gmt":"2021-08-04T05:49:11","guid":{"rendered":"https:\/\/www.wikitechy.com\/interview-questions\/?p=1269"},"modified":"2023-08-24T04:31:48","modified_gmt":"2023-08-24T04:31:48","slug":"what-is-vendor-reconciliation-and-how-is-it-done","status":"publish","type":"post","link":"https:\/\/www.wikitechy.com\/interview-questions\/accounting\/what-is-vendor-reconciliation-and-how-is-it-done\/","title":{"rendered":"What is Vendor Reconciliation and how is it done ?"},"content":{"rendered":"<div class=\"TextHeading\" style=\"text-align: justify;\"><\/div>\n<ul>\n<li style=\"text-align: justify;\">Vendor reconciliation means statement showing difference of Company payable to vendor a\/c balance & vendor outstanding balance. It is reconciled from both account balance company and vendor. If there is any advance to vendor it will reduce the balance from company payable amount.<\/li>\n<li>Reconciliation following the below steps,\n<ul>\n<li style=\"text-align: justify;\">Verify that the accounts payable journal was properly posted to the general ledger.<\/li>\n<li style=\"text-align: justify;\">Verify that the aged accounts payable report was printed after all posting was completed.<\/li>\n<li style=\"text-align: justify;\">Verify that the general ledger is set to the correct reporting period.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.zintego.com\/\" target=\"_blank\" rel=\"noopener\">Zintego App Free<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Answer : Vendor reconciliation means statement showing difference of Company&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8950],"tags":[195,1740,5937,203,8949,7386,205,7379,222,484,362,7412,9185,9163,196,8405,8408,8983,8982,207,8981,366,204,8977,483,8980,8979,9170,9168,7495,200,8984,9171,9184,9162,9172,9169,9179,9180,9165,9167,9174,9164,9173,9182,9175,9183,9176,9178,9177,9166,9181,15917,8978],"class_list":["post-1269","post","type-post","status-publish","format-standard","hentry","category-accounting","tag-accenture-interview-questions-and-answers","tag-asian-paints-ltd-interview-questions-and-answers","tag-aveva-software-interview-questions-and-answers","tag-capgemini-interview-questions-and-answers","tag-csc-interview-questions-and-answers","tag-cts-interview-questions-and-answers","tag-dell-international-services-india-pvt-ltd-interview-questions-and-answers","tag-deloitte-interview-questions-and-answers","tag-flipkart-interview-questions-and-answers","tag-genpact-interview-questions-and-answers","tag-hcl-technologies-interview-questions-and-answers","tag-hdfc-bank-interview-questions-and-answers","tag-how-to-do-vendor-reconciliation","tag-how-to-do-vendor-reconciliation-in-sap","tag-ibm-interview-questions-and-answers","tag-invesco-interview-questions-and-answers","tag-kpmg-global-services-private-limited-interview-questions-and-answers","tag-lodha-group-interview-questions-and-answers","tag-motilal-oswal-financial-services-interview-questions-and-answers","tag-mphasis-interview-questions-and-answers","tag-muthoot-finance-interview-questions-and-answers","tag-netapp-interview-questions-and-answers","tag-oracle-corporation-interview-questions-and-answers","tag-randstad-india-pvt-ltd-interview-questions-and-answers","tag-reliance-industries-ltd-interview-questions-and-answers","tag-sbi-life-insurance-interview-questions-and-answers","tag-skp-group-interview-questions-and-answers","tag-supplier-reconciliation","tag-supplier-statement-reconciliation-examples","tag-sutherland-global-services-interview-questions-and-answers","tag-tech-mahindra-interview-questions-and-answers","tag-unitedhealth-interview-questions-and-answers","tag-vendor-reconciliation","tag-vendor-reconciliation-account-in-sap","tag-vendor-reconciliation-example","tag-vendor-reconciliation-format","tag-vendor-reconciliation-format-in-excel","tag-vendor-reconciliation-format-in-excel-download","tag-vendor-reconciliation-in-sap","tag-vendor-reconciliation-in-tally","tag-vendor-reconciliation-interview-questions","tag-vendor-reconciliation-process","tag-vendor-reconciliation-process-flow-chart","tag-vendor-reconciliation-process-in-accounts-payable","tag-vendor-reconciliation-process-in-sap","tag-vendor-reconciliation-statement-format","tag-vendor-reconciliation-statement-format-in-excel","tag-vendor-reconciliation-steps","tag-vendor-reconciliation-template","tag-vendor-reconciliation-template-excel","tag-vendor-statement-reconciliation-best-practice","tag-what-is-vendor-reconciliation","tag-xyz-interview-questions-and-answers","tag-yes-bank-interview-questions-and-answers"],"yoast_head":"<!-- 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