Every firm should go for reconciliation once in a year. Every debtor should be sent a reconciliation format consisting of all details on all the transactions in order to confirm the balance and manage the accounts in an effective way. This is essential for keeping your accounts organized and to ensure that your account matches with that of your party. The purpose is to find out if there is any difference between the two and then correct it by finding the flaws. Hence, debtor reconciliation is an important process which helps you keep your accounts healthy and know how much money is due to receive from different debtors. Use this formal format to send it to different parties and manage your accounts without any flaws.
Click Here To Download Debtors Reconciliation Statement Format
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