Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT IS AP/AR RECONCILIATION PROCESS? WHAT YOU DO IN AP/AR RECONCILIATION?
- 2 Answers
- 31322 Views
- Genpact, Shubham, I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
AP (Accounts Payable) reconciliation is the process of
verifying the Accounts of the Creditors (Accounts Payables .
Vendors / Suppliers) with the statement of account
maintained by the respective creditors to ensure that the
transactions recorded in the company's book and the balance
matches with the books of the creditor. In case of
differences, the same should be highlighted and communicated
to the respective creditor/s to make necessary corrections
for the missing entries in the books of the company or the
creditor.
AR (Accounts Receivable) reconciliation is the process
explained above in respect of the Sundry Debtors or Customers.
For correct accounting and proper audit of accounts,
reconciliation and confirmation of Creditors, & Debtors' a/c
balances is an essential requirement.
| Is This Answer Correct ? | 70 Yes | 7 No |
Post New Answer View All Answers
who is the auditor and his deautis
How I can evaluate the internal control audit?
what is the difference you can make by doing your course in the country of your choice
What is an internal audit and what is the role of internal audit?
what are procedure we need to do at the time ACTO VISIT FOR AUDIT OF VAT .
Discuss the factors to be considered by the auditor in order to determine an audit strategy.
what is audit & activities of auditor?
Do you know what are the reasons for getting audited?
Explain how to do an internal audit effectively?
What is an audit process?
What is vouching?
What is the role of internal audit?
What is mean by error of submission? can u plz provide notes on this?
How does an internal audit differ from an external audit?
can external audit be seen as merely an overhead cost adding no value to the orgnisation
