Vendor Statement Reconciliation for Dynamics 365 Finance and Operations

Built right into Microsoft Dynamics 365 Finance and Operations, ExFlow Vendor Statement works with ExFlow Data Capture to import vendor statements, streamlining the reconciliation process for increased accuracy, enhanced trust, and more secure vendor relations.

Are Hidden Reconciliation Errors Putting Your Business at Risk?

Mistakes & Oversights

Overlooking an important detail can have substantial consequences, and lead to additional layers of review and approval that slow down the decision making process.

Late Payment Penalties

Additional costs building up because you Missing payments because you don't have a system in place to check a statement from a vendor for a period against transactions in D365FO.

Misunderstandings

Irregular and manual checking of payments against statements can cause incorrect data that can lead to gaps in communication and disputes with your vendor.

Lack of Overview

Without regular vendor statement reconciliation, audits and ensuring compliance with financial regulations become a hassle and a burden on you team as they lack overview.

Prevent Errors, Enhance Trust

Ensuring Financial Accuracy

Verify that your internal records align with the vendor’s statements, limit human errors and prevent discrepancies that could lead to financial inaccuracies.

Avoiding Payment Errors

By reconciling vendor statements, you can identify and correct any overpayments or underpayments, ensuring you only pay for what you’ve received.

Strengthening Vendor Relationships

Timely and accurate payments foster good relationships with vendors, which can be beneficial for negotiating better terms and ensuring reliable supply chains.

Improving Cash Flow Management

Reconciliation aids in effectively planning your cash flow by providing a clear picture of outstanding liabilities and ensuring timely payments.

Enhancing Audit and Compliance

Regular reconciliations simplify audit preparation and ensure compliance with financial regulations, as all transactions are accurately recorded and discrepancies are resolved.

Preventing Fraud

By regularly checking and matching records, you can detect and prevent fraudulent activities, ensuring the integrity of your financial operations.

Why ExFlow Vendor Statement?

ExFlow Vendor Statement allows for a simplified approach to managing and reconciling vendor accounts. Detailed statements provide a clear overview of your financial interactions with vendors, helping ensure precision in all your transactions. By facilitating easy identification of discrepancies, you benefit from increased accuracy, reduced errors, and improved vendor relationships, making financial management more efficient, effective, and secure.

How It Works

AUTOMATE RECONCILIATION

Automate the process of reconciliation with matching rules to quickly enhance efficiency, reduce mistakes and ensure real-time accuracy in your records.

VENDOR STATEMENT STATUS

Easily change the status of the Vendor Statement to reconciled when it is correctly matched against the transactions.

RECONCILIATION REPORT

Create correct Vendor Statement Reconciliation Reports that are crucial for audits and compliance.

VENDOR RECONCILIATION OVERVIEW

The Vendor Reconciliation Worksheet grants an overview of all matched and unmatched vendor statements with the corresponding vendor transactions.