Reconciliation of supplier statements is a crucial yet notoriously tedious task for finance teams. From uncovering duplicate payments to keeping ledgers accurate, the process is essential for maintaining financial health. However, manual reconciliation is fraught with challenges, making it a low priority for many. Enter...
In any profession, no worker intends to make a mistake during their day job. But, even a small error can be costly for a business when it comes to the accounts payable function. Unfortunately, an AP professional’s role is open to human error, with manual data entry,...
In any profession, no worker intends to make a mistake during their day job. But, even a small error can be costly for a business when it comes to the accounts payable function. Unfortunately, an AP professional’s role is open to human error, with manual data entry,...
Supplier statement reconciliation is a vital part of any Accounts Payable team. A supplier statement reconciliation process allows AP teams to ensure ledgers are balanced accurately. This means working closely with suppliers to ensure that invoices and credit notes on their statements match with the transactions...
We’ve experienced a lot of changes in the world of accounts payable in the last eight months. With a mix of office and remote working changing up the industry, at Westgate Moore, we wanted to explore how AP’s and finance directors view the recovery audit process,...
Accounts payable (AP) functions are some of the most transaction intensive environments within a medium to large scale business. Endless emails, faxes, and piles of post, come into the AP function on a daily basis. The amount of incoming paper is thankfully starting to decrease;...
For Accounts Payable teams, ensuring that ledgers are up to date and accurate is a critical part of offering a professional service to clients. What is Supplier Statement Reconciliation? A supplier statement reconciliation, or vendor statement reconciliation, is the process Accounts Payable’s use to reconcile a supplier’s...