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  3. Accounting

התאמת ספק/לקוח

English translation: Customer / Vendor Reconciliation

12:57 Dec 11, 2022
Hebrew to English translations [PRO]
Bus/Financial - Accounting
Hebrew term or phrase: התאמת ספק/לקוח
The term for reconciling the respective books of the service provider and the customer, when there is a discrepancy between the books. What is the English term that accountants use?
dhaberm
Local time: 06:55
English translation:Customer / Vendor Reconciliation
Explanation:
Vendor reconciliations compare the balance owed on supplier provided statements to transactions within the payable ledger and its overall balance while, Customer reconciliations are performed by businesses which offer to their customers.
Selected response from:

Yoram Izsak
Israel
Local time: 06:55
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4 KudoZ points were awarded for this answer



Summary of answers provided
5Customer / Vendor Reconciliation
Yoram Izsak


  

Answers


54 mins   confidence: Answerer confidence 5/5
Customer / Vendor Reconciliation


Explanation:
Vendor reconciliations compare the balance owed on supplier provided statements to transactions within the payable ledger and its overall balance while, Customer reconciliations are performed by businesses which offer to their customers.

Example sentence(s):
  • Financial reconciliation is the accounting process by which two different data sets are compared to verify that the information within them is accurate.
  • Vendor reconciliation is the process of matching Company payable to vendor a/c balance & vendor outstanding balance and recording the discrepancies. It is reconciled from both account balance company and vendor.

    Reference: http://https://ledgerbench.com/customer-vendor-reconciliatio...
    Reference: http://https://cleartax.in/s/vendor-reconciliation
Yoram Izsak
Israel
Local time: 06:55
Specializes in field
Native speaker of: Native in HebrewHebrew
PRO pts in category: 32
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