To reconcile AP, compare your AP records with supplier statements and invoices to confirm balances and verify payments.
To reconcile accounts payable, compare your company’s AP records with supplier statements and invoices to ensure that all outstanding balances, payments, and due amounts match. Review open invoices, confirm that recorded payments were applied correctly, and investigate any discrepancies such as missing invoices, duplicate entries, or incorrect amounts. Regular reconciliation helps prevent overpayments, catch errors early, and keep financial records accurate.
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