Payment Reconciliation System

Reconciliation of accounts payable for a vendor with the statement provided by the particular vendor.

Find leakages in your financial transactions of related vendors.

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Reconciliation Helps You In

  • Matching the payment.
  • It will work to get high quality work as per your needs with reasonable rates.
  • Vendor reconciliation statement acts as proof that there is no material inaccuracy in the accounts of the Vendors.
  • Give significant cost reduction with high Return of asset.

How Is Your Money Leaking into Shipping Vendors?

Each Vendors has its own commission structure, payment terms, fees, penalties & other charges. Without an effective accounting and reconciliation process, it's easy to lose track of your payments as explained below.

Commission Overcharges

Commission Overcharges

Sales commissions depend on shipping categories and are usually calculated using a percentage of each consignment’s price.

Our Vendor payment reconciliation system identifies any commission that has been incorrectly charged and provides data for the same.

Shipping Overcharges

Vendor charge fees for shipping based on categories defined by shipment dimensions, weight and location of the delivery.

In the event a shipping category is wrongly recorded, our payment reconciliation system helps reconcile such overcharged shipping fees.

Shipping Overcharges
Vendor Reconciliation Steps

Steps in Vendor Reconciliation

  • Step - 01

    Getting a statement of account from the vendor as Excel format.

  • Step - 02

    Upload Excel and start Comparing the statement with the vendor accounts as per the records in software.

  • Step - 03

    Adjusting for any difference, which should be separately shown in the reconciliation statement.