Vendor Statement Review
Find What Your
Internal Records May Miss.
Broniec reconciles supplier statements against your accounts payable records to identify open credits, unapplied payments, and other discrepancies that may represent recovery opportunities.
Supplier statements provide a view beyond the ERP, helping uncover missed value while improving the accuracy and visibility of your accounts payable records.
Why Statements Matter
Visibility Beyond Internal Records
Your accounts payable system reflects what has been processed internally. Supplier statements provide another perspective — and the differences between the two can reveal both recoverable value and unresolved operational issues.
Accounts Payable Records
Your ERP reflects invoices, payments, credits, and other transactions recorded within your own system.
Vendor Statements
Supplier statements reflect what remains open, credited, applied, or unresolved on the supplier side of the relationship.
What the Differences Can Reveal
Reconciliation helps surface discrepancies that may not be apparent when reviewing internal records alone.
Unapplied payments
Open credits not captured internally
Disputed or unresolved items
Timing and communication gaps
Statement-to-ledger mismatches
Credits moved to suspense accounts
Scope of Review
Statement-to-Ledger Reconciliation
Broniec reconciles supplier statements against internal accounts payable records to identify discrepancies and potential recovery opportunities. The review focuses on where supplier records and internal records do not align — and what those differences may reveal.
Credit Identification
Identify open credits and unapplied balances reflected on supplier statements that may not be captured in internal records.
Unapplied Payments
Review payments that may not have been correctly reflected or applied by the supplier.
Open Item Discrepancies
Compare open items on supplier statements with internal records to identify differences requiring further review.
Aging Variances
Identify timing and classification inconsistencies between supplier statements and internal accounts payable records.
Vendor Misapplication
Review potential supplier-side misapplications, including incorrect self-assessment or situations where remittance detail is lacking.
The Objective
Turn discrepancies into actionable findings.
By bringing the supplier statement and internal ledger together, Broniec can isolate differences for further review, resolution, and potential recovery.
Our Approach
Structured Reconciliation with Vendor Engagement
Our process combines statement collection, analysis, reconciliation, and resolution tracking to identify and document discrepancies between supplier records and your internal accounts payable data.
Collect
Vendor Statement Collection
Supplier statements provide the external view needed to compare what vendors show as open, credited, applied, or unresolved against internal accounts payable records.
Reconcile
Statement-to-Ledger Reconciliation
Statement activity is reconciled against internal records to identify where the supplier's view and the accounts payable ledger do not align.
Identify
Exception Identification
Differences are isolated for further review, helping surface potential open credits, unapplied balances, and other discrepancies.
Resolve
Resolution Tracking & Documentation
Identified items are tracked through resolution with supporting documentation, creating a clear record of the reconciliation process and its findings.
A More Complete View
The process looks beyond what is visible in the ledger alone.
By incorporating supplier statements into the review, Broniec can compare both sides of the account and investigate discrepancies that may otherwise remain unresolved.
What Clients Gain
Improved Working Capital Visibility
Vendor Statement Reviews provide practical financial value by bringing unresolved supplier account activity into clearer view. Identifying and resolving these discrepancies can recover open balances while improving the accuracy of supplier accounts.
The value extends beyond individual recoveries: reconciliation also provides greater visibility into outstanding discrepancies and the financial activity reflected across supplier accounts.
Recover Open Value
Identify recovery opportunities associated with open credits and unapplied balances.
Improve Account Accuracy
Reconcile discrepancies to improve the accuracy of supplier account records.
Reduce Outstanding Discrepancies
Bring unresolved differences into focus so they can be reviewed and addressed.
Increase Working Capital Visibility
Gain greater visibility into credits, balances, and other outstanding supplier account activity.
Strengthen Vendor Relationships Through Resolution
Resolving outstanding account discrepancies helps create greater clarity between your internal records and the supplier's records.
How Statement Review Fits
A Foundational Component of AP Recovery Auditing
Vendor statement reconciliation is a core element of many comprehensive accounts payable audits, helping uncover discrepancies that may not be visible within internal transaction data alone.
Some opportunities only become visible when you look beyond your own records.
Whether performed within a comprehensive audit or as a targeted review, supplier statement reconciliation provides an additional source of information for identifying discrepancies and recoverable value.
Frequently Asked Questions
Common Questions About Vendor Statement Review
Vendor statement review helps reconcile supplier records against internal accounts payable data to identify discrepancies, open credits, unapplied payments, and other potential recovery opportunities.
What is a vendor statement review?
A vendor statement review compares supplier statements with internal accounts payable records to identify discrepancies and potential recovery opportunities, including open credits and unapplied balances.
Why review supplier statements if we already have ERP data?
Internal AP systems reflect transactions recorded within your own organization, while supplier statements reflect the supplier's view of the account. Differences between those two records can reveal items that are not visible internally.
What can vendor statement reconciliation uncover?
The review can identify unapplied payments, open credits not captured internally, disputed or unresolved items, timing discrepancies, statement-to-ledger mismatches, aging variances, and credits moved to suspense accounts.
Can vendor statement review be performed on its own?
Yes. Vendor statement reconciliation is a core component of many comprehensive accounts payable audits, but it can also be performed independently as a more targeted review.
What does Broniec's statement review process include?
The process includes vendor statement collection, statement-to-ledger reconciliation, exception identification, and resolution tracking and documentation.
What are the benefits of vendor statement review?
Benefits can include recovery of open credits and unapplied balances, improved supplier account accuracy, reduced outstanding discrepancies, greater working capital visibility, and stronger vendor relationships through resolution.
“Our Broniec auditor was super helpful and would explain in detail what and how he was finding overpayments. He incredibly thorough in his research.”
Vendor Statement Review
Recover What Your Statements Reveal
Independent reconciliation can uncover open credits, unapplied payments, and other discrepancies that may not be visible in day-to-day accounts payable processing.