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Guide to Vendor Account Reconciliation Process

Nanonets

This process involves comparing the company's accounts payable data, which includes invoices, purchase orders, receipts, and statements, with the corresponding records maintained by the vendors. All line items must be reviewed for errors in vendor names, invoice numbers, payment amounts, and terms.

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Invoice Reconciliation: An In-Depth Look

EBizCharge

Invoices are documents a seller sends to the buyer detailing the products or services provided and the payment amount due. Fraud protection One overlooked yet critical aspect of invoice reconciliation is its role in fraud detection and prevention.