what is Vendor Reconciliation & Bank Reconciliation ?
Posted by Deepak Kumar on January 25th 2018 16:19 PM
Vendor Reconciliation:- It is a statement of difference in vendor books as per our books. It is part of accounts payable Differ may be due to following - (a) Vendor Invoice did not entered in our books (b) Our payment did not entered in vendor books (c) Invoice amount difference. Bank Reconciliation:- It is statement to reconcile the bank balance as per cash book with the balances as per bank pass book, showing entries causing differ between two balances.