Worksheets for A/P accounts

Although the system will allow an interactive method for reviewing,  and paying, your obligations, most account managers will first  review a printed listing of the activity due, and reconcile it  against the statement provided by the vendor.

This report, which  can be run for any payment cycle, will look very similar to the  statement received.  Most businesses will cross off any transactions  not on the invoice, and then when performing the check processing,  those items are left unpaid.  If invoices are mis-posted by the  vendor, the error will be immediately detected.

This simple report will alleviate considerable concern about  verifyin statements prior to payment.  It should be run for a  period of time that clearly details all dates covered by the  vendor's closing period.  This is done by specifying a closing date  later than that used by the vendor.  Extra items are simply marked  off, and not paid until the next statement arrives, on which they  should appear.