As a small business owner, keeping on top of your finances can sometimes feel overwhelming. That’s where Dext’s Supplier Statement Reconciliation feature steps in to save time, reduce errors and give you peace of mind.
What is supplier statement reconciliation?
Supplier statement reconciliation is the process of matching the invoices and credit notes in your accounting system with the supplier’s statement. It ensures that:
- you haven’t missed any invoices
- payments are correctly allocated
- your accounts payable is accurate.
Traditionally, this is a manual, time-consuming task. often involving spreadsheets and cross-checking individual invoices line by line. It can be time-consuming, and mistakes are easy to make.
How automation can help
Technology makes it possible to automate much of this process. For example, tools like Dext’s Supplier Statement Reconciliation feature can extract key details from a supplier statement, including:
- statement date
- payable balance
- invoice and credit note details
The tool can scan your accounting records (like Xero or QuickBooks) to identify any missing or mismatched documents. This means you can spot discrepancies before they become a problem.
This automated approach helps businesses by:
- Saving time: Removing the need for manual cross-checking
- Reducing errors: Ensuring invoices and payments are correctly matched
- Supporting cash flow management: Providing a clearer view of what you owe and when
- Improving supplier relationships: Helping you pay suppliers on time and with confidence
Why it matters for growing businesses
As your business grows, your time becomes more valuable and your financial accuracy more critical. Dext’s Supplier Statement Reconciliation feature helps you stay in control, reduce admin, and focus on what matters most: running your business.
If you’re already using cloud accounting software like Xero or QuickBooks Online, Dext plugs right in. It enhances your existing setup without adding complexity.
If you’d like to know more about Dext’s Supplier Reconciliation feature, please speak to Rebecca Roberts or your usual UHY cloud accounting adviser.
