Vendor statements
Statements requested from suppliers and matched to your payables ledger.
All finance operations services
Finance Operations
Vendor and Customer Reconciliation
FinAura agrees your ledgers with your suppliers' and customers' own records. We request statements, match them invoice by invoice, trace every difference to a missing bill, credit note, payment or deduction, and post the corrections, so balances are confirmed before your auditor or a dispute asks for them.
- Chartered Accountant-led
- Bangalore and across India
- Reply within one business day
What is covered
What Vendor and Customer Reconciliation Covers
Both sides of the ledger, agreed with the other party.
Customer statements
Your receivables agreed with what customers say they owe.
Credit notes and deductions
Discounts, short payments and returns found and recorded.
TDS differences
Tax deducted by customers matched to their certificates and your tax credit statement.
Balance confirmations
Year-end confirmations sent and followed up for the audit.
Disputes on facts
A clear list of open items to settle with each party.
How the month runs
How It Works
Request, match, trace, agree.
Step 1
Request
- Key vendors and customers chosen
- Statements requested
- Ledgers extracted
Step 2
Match
- Invoice by invoice
- Payments and receipts
- Credit notes
Step 3
Trace
- Missing bills
- Unrecorded deductions
- TDS gaps
Step 4
Agree
- Corrections posted
- Open items listed
- Balances confirmed
Your part
What We Need From You
- 01Contact details for vendor and customer accounts teams
- 02Your payables and receivables ledgers (or software access)
- 03Any agreements with special terms
- 04Approval for corrections above a set amount
Our part
What You Get
- Ledgers agreed with the other side
- A list of open items by party
- Corrections posted with support
- Confirmations on file for the auditor
A common question
Why do ledgers differ from a supplier's statement?
Most differences are a bill the supplier raised that never reached you, a payment they have not applied, a credit note one side has not recorded, or tax deducted at source.
Left alone, these turn into disputes, wrong payments and audit queries. Agreed regularly, they are small, factual corrections.
See accounts payableAgreedBalances confirmed
MatchingInvoice by invoice
StatementsFrom vendors and customers
Who it is for
Who It Is For
Companies facing audit
Confirmations the auditor will ask for.
Businesses with disputes
Suppliers or customers claiming different balances.
Distributors and traders
Schemes, discounts and returns.
Groups after a system change
Opening balances to re-establish.
The rules, in plain English
What the Law Says
Companies Act, 2013
Section 128
Every company keeps books of account that give a true and fair view of its affairs and preserves them for at least the eight financial years before the current one.
Official source: mca.gov.inCGST Act, 2017
Section 16
Input tax credit can be claimed only with a valid invoice, on goods or services received, where the supplier has reported the invoice and paid the tax, and you have filed your return.
Official source: cbic-gst.gov.inThis is general information, not advice for your situation; we confirm what applies to you before any work starts.
Questions we get asked
Vendor and Customer Reconciliation: Questions, Answered
What is vendor reconciliation?
Comparing your record of what you owe a supplier with the supplier's statement, and explaining every difference invoice by invoice.
How often should ledgers be reconciled?
Major vendors and customers quarterly, and every account before the year-end close.
Do you contact our suppliers directly?
With your approval, yes. We write as your accounts team and copy you on anything that needs a decision.
Do you include TDS in customer reconciliation?
Yes. Tax customers deducted is matched to their certificates and your tax credit statement, so the credit is claimed in full.
Often Taken Together
All 10 Finance Operations services01Finance OperationsAccounts PayableInvoices checked, approved and scheduled for payment with proper controls, so vendors are paid when due and nobody is paid twice.02Finance OperationsAccounts ReceivableInvoices raised promptly, collections tracked by age, and reminders sent on a schedule, so you always know who owes you and since when.03Finance OperationsBank ReconciliationEvery bank line matched to the books, daily or monthly, with exceptions listed and resolved rather than carried forward.04Accounting & FinanceAccounting & BookkeepingClean, current books every month, reviewed by a Chartered Accountant.05Tax & ComplianceTaxationGST, income tax, TDS, tax planning and notice replies, from reconciled data.