Streamline Your Accounting with Our Invoice Reconciliation Template Excel for Facilities

Invoice reconciliation template excel for Facilities

in this segment of the video I'll be covering reconciliation process using the vlookup feature suppose you have two set of data that you want to reconcile you have Recon one and Recon two now suppose your colleague has a report and you have another set of report and you're trying to verify the price pricing listed on the reports are the same now if it's a small enough report you can just manually eyeball them but let's just imagine it's a huge Report with hundreds perhaps even thousands of Records so manually uh matching them up may not be practical so one easy way to do that is comparing two set data um side by side so what I will do is from view new window arrange all horizontal and it shows you Recon one and Recon two I'm going to write a vlookup formula and it doesn't really matter which side you um write it from look up record number and the record number hopefully is a unique value and then from the data from a different report seventh column over and false what I'm going to do here is this is a simple V lookup table which will look at the record number from this report and bring in the price from another report and I'm going to put a minus sign here and take away um the price now if it's zero it's telling you that they match it says $75 here and it also says $75 there so 75 - 75 is zero and what I just did there is uh double click on this corner here to copy the formula all the way down and as you can see where there is Delta anything greater anything that does not equal zero is your Delta so let's take a look r115 says $75 here but 85 there so this is a quick and easy way of doing reconciliation of two reports which is quite simple um as long as you have a unique identifier which can be found in both report which is what I would like to call primary key primary key