Reconcile bills

Overview

Before paying or exporting bills, reconcile each bill to verify that its information and charges are accurate. Reconciliation validates each bill, ensures only approved bills are paid or exported to your accounting software, and helps maintain accurate accounting records.

When reconciling bills, make sure to review these for accuracy:

• Total

• Item SKUs

• Item costs

• Item quantity

• Fees and deduction

• Sales tax

• Shipping fees

• Payment term

Note: You can only add reconciled bills to statements.

Things to know

• Accounts Payable must be enabled to use this feature. For more, see Set up Payables.

• To reconcile bills in bulk, see Reconcile bills in bulk.

• A bill moves through statuses as it is processed. For example, from Needs Review to Reconciled. To understand each status, see Understand bill statuses.

• If your account is set to automatically reconcile non-PO bills, those bills are marked Reconciled on creation and cannot be edited. This is an Accounts Payable setting. For more, see Set up Accounts Payable.

Reconcile a bill

1. Go to the navigation bar and click Accounting.

2. In the side panel, click Bills.

3. If your account doesn't have 3-Way Matching enabled, click the Unreconciled tab if it's not already selected. If your account has 3-Way Matching enabled, click the Needs Review tab instead.

4. Select the bill you want to reconcile.

   Tip: Use the filters to quickly find the bill.

   

5. (Optional) If you need to edit the bill, follow the steps outlined in Edit a bill.

6. Review the bill to verify that all information, charges, and line items are accurate and complete, then do one of the following:

   1. If the transaction is complete and accurate, click Reconciliation Actions > Mark as Reconciled. A pop-up opens to confirm the bill is reconciled.

      Note: If your account has 3-Way Matching enabled and the bill has discrepancies, a dialog opens asking you to confirm you accept the discrepancy and select a reason. For more, see Find vendor bill discrepancies with 3-Way Matching.

      

   2. If the transaction is incomplete or inaccurate, click Reconciliation Actions > Discrepancies Identified.

      Note: If your account has 3-Way Matching enabled, discrepancies are identified automatically. You can still mark discrepancies manually when you find an issue that 3-Way Matching didn't flag. For more, see Find vendor bill discrepancies with 3-Way Matching.

      Tip: To document identified discrepancies and keep track of what actions you take to resolve the discrepancies, click Comment to add comments on the bill.

Want to learn more?

• See Set up Accounts Payable

• See Map pre- and post-tax charges and deductions on bills to general ledger accounts