Reconciliation reports are drawn up to reconcile payments and identify discrepancies in contracts, commercial invoices, and receipts of money. If a debt is identified, the parties usually agree on a timeframe for its repayment. Reconciliation reports may also be used in court to support non-compliance with deadlines.
Although reconciliation reports allow mitigating risks, they are not mandatory documents. They can, for example, serve as insurance against non-repayment of debt due to the expiration of statute of limitations because the creditor may suspend the term of limitation in court if the debtor has signed a reconciliation report.
Setting up automatic generation of reconciliation reports in 1C: Accounting
- Installation and configuration
- User guide
Our automation module allows generating reconciliation reports by:
- Contract currency
It is possible upon request to customize automation in other accounting systems.
- Generate reconciliation reports in the appropriate program;
- Compare counterparties’ reconciliation reports with the data in the accounting system;
- Prepare and send to counterparties any identified discrepancies.
Our services may be provided either remotely or at the client’s site.