Streamline Your Processes with Our Invoice Reconciliation Template Excel for Human Resources

Invoice reconciliation template excel for Human Resources

right let's have a look at reconciling our supplier statements so first of all think about what we would have not in our Double Entry but as our memorandum account or our subsidiary account as we call it basically our list of everything that's happened with that individual supplier we've got the following so I just want to talk you through it we say right yeah we did have an invoice from them uh which we because we bought something of 174 then we brought something off them worth 144 and it seems I paid the 174 original invoice off so I've got a balance of 144 invoice 116. then it seems I've paid 72 but then I notice it's not a payment it's a credit note and it says credit note 116 so they've given me a partial credit on invoice 116 which is fine then there was another invoice for 114 so overall I think I owe the customer the supplier sorry 100 186. so far so good but now I've got to see what they think I owe them so via email or through the post we save a supplier statement and we think oh dear they think what they owe us we owe them 510 we think we owe them 186 so you just got to go through and kind of tick them off reconcile them so starting off with that 174 which as you can see is for invoice 105 but they've put in voice 105 in at 498 there's obviously a potential error now in the exam they'll probably tell you what the potential error was but we know that invoice 105 is a potential error uh 498 compared to 174 a potentially over 324. okay let's keep going on we said we've got written in that we made another purchase of one one one four four they agree we've got that then we think we paid them 174. they agree they've got that then we think we've got a credit note of 72 they agree they've got that then we think we made a payment of 114. they agree they've got that and that's it so the only difference between our 186 and their 510 is that 324 and what you've just done there is a Supply statement reconciliation let's just do it more formally you start off with your own balance the balance per your individual supplier account which is that 186 really put in all the areas you found all the differences 324 and that should equal your balance per Supply statement and there it is it does