Customer/Vendor Balance Reconciliation
At the end of each fiscal year (or, if necessary, other accounting periods) companies prepare reports on their accounts receivable and payable to reconcile them with relevant customer and vendor balances. Vendors and customers are obliged to validate such statements by settling the payables and receivables balances registered in their systems and provide their feedback on the process.
The Polish Localization application provides the Customer Balance Confirmation and Vendor Balance Reconciliation reports that show receivables and payables balances for specific dates.
Printing Customer Balance Confirmation
To print the customer balance confirmation:
- Choose , enter Customer Balance Reconciliation, and then select a related link.
- On the initial report page, complete the fields on the Options FastTab as appropriate:
Field Name | Descriptions |
---|---|
Reconcile Date | Specify the the date for which the receivables are to be reported. |
Return Date | Specifies the deadline for returning the confirmed document receipt by the customer. This field is filled in automatically with the date that is 7 days later than the date in the Reconcile Date field. If needed, the value in the Return Date field can be changed manually. |
Include Vendor Debts | If this field is selected the customer’s balance is displayed as one amount which is the difference between its receivables and payables. It is possible when a contractor is both a customer and vendor. In this case, customer and vendor cards have to be linked in the contact card. |
Print Details | If this field is selected, the application creates a separate page to print a list of documents with unsettled amounts which are totaled in the receivables balance (and liabilities balance if the Include Vendor Debts page has been checked). |
Print Only Not Zero | If this field is selected, the application skips printing the Customer Balance Reconciliation document for each customer with the value in the Reconcile Date set as 0. |
Print Amounts in Currency | If this field is selected, the application prints amounts totaled in receivables balance as total amounts for each source currency and their equivalent in a local currency which is calculated based on a historical exchange rate (this also applies to amounts on documents included in a detail balance statement). |
Show Document No. as | Specifies that the details of selected document number are to be printed. To print the details, select the Document No. or External Document No. option in this field. |
On the Customer FastTab, you can set up default filters to limit the range of data for printing.
Select Print in order to print customer balance reconciliation documents or click Preview display them on the screen:
Note
Analogically, the Vendor Balance Reconciliation document can be created and printed for account payables.