¶ Introduction
Vendor reconciliation is the process of comparing a company's internal financial records against a vendor's statement to ensure accuracy and resolve discrepancies. This involves matching purchase orders, invoices, and payment records to the vendor's statement to verify that the amounts and transactions are correct. Effective vendor reconciliation helps prevent overpayments, detects errors or fraud, improves cash flow management, and fosters stronger, more transparent relationships with vendors.
Below is a diagram that illustrates the processes discussed in the section below:
The Vendor collaboration module is targeted at vendors who don't have electronic data interchange (EDI) integration with Microsoft Dynamics 365 Supply Chain Management. It lets vendors work with purchase orders (POs), invoices, consignment inventory information, and requests for quotation (RFQs), and lets them access parts of their vendor master data. This document explains how you can collaborate with external vendors who use the vendor collaboration interface to work with POs and RFQs.
¶ Step 1: xxxxxxx
By using the Axnosis VSS mobile app, people can regsiter themselves as new prospective vendors.
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