Supplier Reconciliation - Status Method |
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Why Reconcile?
Supplier statement reconciliations are one of the most important financial controls. They ensure that:
•All amounts due are correctly recorded
•No duplicate invoices or payments are processed
•Liabilities and costs are accurately reflected
Reconciliation Methods
In the Supplier Main Form, you can choose between two reconciliation methods:
•Method 1: Status Reconciliation (recommended) - Method described here.
Provides checks and balances to ensure accurate reconciliations.
•Method 2: Invoice Reconciliation
A simplified method with no checks — best for small businesses with uncomplicated supplier accounts.
Access Control & Security Settings
To restrict access to specific fields or actions within the reconciliation process, use the Security Setup feature.
For example:
•Prevent users from changing the reconciliation status
•Lock down the Strict Reconciliation Mode setting
