Reconciles

Vendor statement reconciliation software to reconcile supplier statements

Reconciles is vendor statement reconciliation software for US accounts payable teams. Upload a supplier statement (XLSX or CSV) and your AP ledger or open bills export from QuickBooks, Xero or NetSuite, and every invoice, credit memo and payment on the statement is matched to your books. What is left is the short list that matters: invoices the vendor billed that you never entered, payments they have not applied, duplicates and amount differences. Plans are published, from $888 a year, and you can try it on your own files before you sign up.

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Why vendor statements rarely agree with your AP ledger

A vendor statement is the supplier's view of what you owe. Your aged payables report is yours. In a perfect month they show the same balance. In a real month they almost never do, and the difference is spread across a dozen small items on both sides.

Three way matching does not catch this. It checks the invoices you received against the purchase order and the receipt, so an invoice that went to an old email address, a former employee or a spam folder never enters the process. The first time you see it is on the vendor's statement, often with a late fee attached, or worse, when the supplier puts your account on credit hold.

Working a statement by hand means ticking 40 or 400 lines against an export, one vendor at a time. Most teams only manage it for their top ten suppliers at year end. Reconciles does the ticking for every statement you upload and leaves your team with the exceptions, each with a reason.

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What breaks a supplier statement reconciliation

  • Invoices on the statement that were never entered in your AP system, because the PDF never reached accounts payable.
  • Payments you sent that the vendor has not applied yet, or applied to the wrong invoice.
  • Credit memos and rebates the vendor issued that never made it into your books, so you overpay.
  • Duplicate bills, the same invoice keyed twice with a slightly different number such as INV-4471 and 4471.
  • Short pays and early payment discounts that leave small open balances on both sides.
  • Timing: invoices dated on the last day of the month that you booked in the next period, and payments in transit on the statement date.

Reconciles vs other ways to reconcile vendor statements

ReconcilesAP automation suitesEnterprise statement matchingSpreadsheets
Examples Reconciles Yooz, Stampli and similar AP platforms Basware, HighRadius, Tungsten Automation Excel or Google Sheets
Main job Match statements, bills, payments and bank in one place Capture, approve and pay invoices Statement matching inside a large AP program Whatever the formulas do
How you buy Self-serve, published plans Usually a demo and a quote Quote and implementation project Already installed
Statement formats read XLSX, CSV Varies by vendor PDF, Excel and paper in most cases Copy and paste
Payments matched to the bank too Yes, same engine Some Some Manual
Duplicate bill detection Yes, fuzzy invoice numbers Often Yes Manual
Needs to replace your AP process No Yes, it becomes your AP process Often No
Best for Controllers and AP leads who want every statement reconciled monthly without a new AP system Teams replacing their whole invoice workflow Large enterprises on SAP or Oracle with high supplier counts A handful of vendors

If you already run an AP platform you like, keep it. Reconciles works on the exports you already have, so it fits next to QuickBooks bill pay, Bill.com style tools or NetSuite AP without changing how invoices are approved.

What Reconciles matches on a vendor statement

Statement lines to open bills

Every invoice and credit memo on the statement is matched to a bill or vendor credit in your ledger by invoice number, amount and date. Fuzzy number matching handles prefixes, leading zeros and the PO number the supplier puts in place of their own invoice number.

Statement payments to your bill payments

Payments the supplier shows as received are matched to your bill payments and checks. One payment covering 14 invoices is matched one to many, and payments in transit on the statement date are labeled as timing, not as errors.

Your payments to the bank

Because the same engine reconciles your bank account, each vendor payment is also tied to the ACH, wire or check that cleared. When a supplier says a payment never arrived, you have the bank line and the date in one click.

Balances to the aged payables report

The statement closing balance is compared with the vendor's balance on your aged payables report, and the difference is fully explained by the listed exceptions, so the reconciliation adds up.

How to reconcile vendor statements with Reconciles

1. Collect the statements for the month from your vendors as XLSX or CSV. Most suppliers send an Excel version on request, and one file per vendor or one combined export both work.

2. Export open bills, vendor credits and bill payments for the same vendors from QuickBooks, Xero or NetSuite, or the AP subledger of your ERP.

3. Upload both. Reconciles reads the columns on its own, matches invoices, credits and payments, and saves matching rules per vendor so next month runs with less review.

4. Work the exceptions queue: request copies of missing invoices, send unapplied payment details to the vendor, and export the reconciliation report or correcting entries for your books.

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A supplier statement reconciliation, line by line

Say a packaging supplier sends a September statement with 38 lines and a closing balance of $48,210.60. Your aged payables report shows $41,365.10 for the same vendor, a difference of $6,845.50.

Reconciles matches 35 statement lines on its own: 29 invoices to bills, 4 payments to your bill payments and 2 credit memos to vendor credits. Five items move to the exceptions queue. Invoice 88412 for $6,056.40 is on the statement but not in your books, because it was emailed to a buyer who left in August. Your $2,940.00 payment from September 29 is in transit and not yet on the statement. A $1,214.50 credit memo for damaged pallets is on the statement but not entered on your side. Invoice 88177 appears in your ledger twice, once as 88177 and once as INV-88177, for $1,876.40. And a $940.00 short pay for an early payment discount the vendor did not accept. Add and subtract them and the $6,845.50 is fully explained. Before the reconciliation, the team would have paid the duplicate and found the missing invoice after the late fee.

Who buys vendor statement reconciliation software

  • AP managers and controllers at US companies with a few hundred active vendors who want every statement reconciled monthly, not only the top ten at year end. See accounts payable reconciliation for the full AP picture.
  • Distributors, manufacturers and multi location retailers whose suppliers send long monthly statements with dozens of invoices and credits.
  • Groups with several entities buying from the same suppliers, who need to see which entity each invoice belongs to, see multi entity account reconciliation software.
  • Outsourced accountants who close the books for several clients and reconcile supplier statements as part of the monthly close, see reconciliation software for accountants.

Which plan fits vendor statement reconciliation

A single company reconciling statements for its main suppliers plus one bank account usually fits Starter: 3 accounts, 3,000 transactions matched per month, $74 per month billed yearly or $149 monthly. Once you reconcile many vendors every month, more than one entity or more than 3,000 lines, Growth gives you 15 accounts, 20,000 transactions, 5 entities and journal entries for QuickBooks and Xero at $199 per month billed yearly. Scale adds NetSuite journal entries, an SFTP drop for statements, 100,000 transactions, approvals and the audit log. See the full table on pricing, and the invoice reconciliation software page covers the customer side of the same matching.

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Vendor statement reconciliation questions

See where last month's vendor statements disagree

Upload one supplier statement and your open bills export. You will see which lines match, which invoices are missing from your books and how much is sitting unexplained before the vendor calls.

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