Supplier Statement Reconciliation

The reconciliation of supplier statements is arguably one of the most reliable controls in Accounts Payable. It addresses the audit objectives of completeness, accuracy and validity.

Our Supplier Statement Reconciliation™ (SSR™) application is a SAP-certified ABAP add-on that allows the capture, upload or interface of supplier statements on SAP and provides automated reconciliations between supplier statements and vendor accounts in Accounts Payable. This functionality is not standard in the SAP ECC (ERP Central Component) application.

Overview

SSR identifies

  • unrecorded liabilities
  • transactions captured incorrectly
  • invoices captured more than once
  • invoices already paid

SSR prevents

  • payment of invoices not on statement
  • payment of the same invoice more than once

SSR reconciliations are

  • automated
  • produced in real-time, and therefore always up-to-date
  • available at any time, not only at month-end or before payment is made
  • produced faster, more accurate and more reliable
  • performed consistently, making them easier to understand and review
Benefits

Faster reconciliations
It’s now possible and practical to reconcile large numbers of vendors with high transactional volumes.

More accurate reconciliations
Human error during the statement reconciliation process is reduced or eliminated.

Improved analysis
The summary of reconciliations and age analysis of reconciling items will provide supervisors and managers with a high-level overview of their accounts.

Simplified auditing
Supervisors, managers and auditors will always have access to the latest reconciliations.

Improved storage
All statement and reconciliation data reside on SAP, eliminating spreadsheet based reconciliations stored on a local hard drive or network folder.

Improved security
Anyone with SAP access will be able to view the reconciliation for a particular vendor account, provided they have the required authorisation.

Improved internal controls
The quality of internal controls within the Accounts Payable discipline will be dramatically improved.

Reduced paper wastage
Eliminating the printing of statements will result in dramatic paper savings.

Better utilisation of human capital
Creditors clerks will spend less time reconciling and have more time to resolve reconciling items, thereby adding true business value.

Functional features
  • No recapture of vendor transactions required
  • Support both open item and balance carry-forward statement types
  • Allows for upload and interface of electronic statements
  • Multicurrency support
  • Automatic matching based on common reference
  • Caters for differences between statement and vendor items
  • Reconcile statement across multiple vendor accounts and company codes
  • Save user comments for reconciling items
  • Drilldown to source documents
  • Blocking of vendor transactions not on statements (optional)
  • Summary of reconciliations with age analysis
  • Flexible authorisations
  • Comprehensive audit trail
  • Extensive help documentation
  • User friendly GUI design with familiar look-and-feel
Technical features
  • Developed in ABAP in separate partner namespace
  • Independent of operating system and database management system
  • Compatible with Basis release 6.20 and higher
  • Conforms with standard SAP development principles
  • No external interfaces or non-standard technology
  • No changes to standard SAP required
  • Does not affect support packages or ability upgrade
  • Makes use of existing SAP master and transaction data – no duplication of data
  • Completely parameter driven – can be customised to meet specific business requirements
  • Easy to implement, support and maintain

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