How Creditors Reconciliation Works in SAP

Achieve automated creditor reconciliations with the BEST AP Module directly in SAP

There are simple reasons why BEST SAP stands alone at the top of this automated creditor reconciliation speciality. As a supplier statement reader and reconciliation module in SAP, it automates an expensive, tedious, labour intensive, manual process so that accounts payable functions can be performed quickly, easily and with pin-point accuracy.

You can control the entire creditors’ reconciliation process in SAP. In fact, you can use the normal SAP authorisations mechanism and system audit trails, as well as report statement matching rates and calculate vendor accruals and provisions. And both open item and balance brought forward statements are catered for.

You can also choose to balance the creditor reconciliation to the statement itself, your own SAP creditor balance, to the SAP payment proposal or to actual payment. The last option ensures a creditor’s payment is accurate.

If you wish, BEST can block invoices for payment if they are not on the supplier statement. And you can also base your payment terms on the statement date. These choices give you handy options for aggressive cash flow management.

BEST can automatically process all the formats which creditors’ statements come in: paper, Excel, PDFs and more, as it works in tandem with Vendor Statement Reader or BEST’s Statement Portal.

Better yet, BEST does a lot more than just an accounts payable reconciliation in SAP. It matches all the way up the procurement chain to parked, held, GR/IR and even VIM (Vendor Invoice Management) tools such as OpenText, ReadSoft, eFlow and others.

Simply add the SAP Certified Module to your current SAP suite, allocate the new BEST transactions to your users and start reaping the benefits. No interfaces or separate systems – everything is done in your current SAP system.

Some reasons why to perform creditor reconciliations.

Please watch our video to find out more about the best way to automate your creditor reconciliations.