Reconciling customer statements ensures that there are no inaccuracies or mistakes in what the vendor is charging and the inventory, services or supplies you received. Statements mostly arrive at the same time each month. In simple terms, reconciliation is matching the statements items with your invoices. What is C ustomer Reconciliation ? Vendor reconciliation is a statement received from the vendor which contains details of invoices of the vendor for a particular period. This is a process of comparing the outstanding customer balance or bills to the accounts receivable as recorded in the general ledger. It is part of accounting activity and is usually conducted at the month-end before issuance of monthly financial statements. It also contains unclear items such as payments and credit notes. Steps to reconcile customer/vendor statement: Gather your invoices: Organize your invoices of the vendor by date. If you use a computer to assist your accounting n...