8. Managing Vendors

Accounts Payable Reporting

Accounts payable mistakes often can be one of the primary reasons for misstated company financials. Knowing which reports are best to review will make you much more efficient at keeping your accounts payable “clean,” meaning the data is correct and up to date. Often, the thing that makes troubleshooting data errors most difficult is not knowing exactly what you should be looking for. This problem is addressed in the next section, which explains some of the more common reports used to identify whether your accounts payable information is correct.

Reconciling Balance Sheet Accounts Payable Balance to A/P Aging Summary Report Total

An important check to do with your file is to compare your Balance Sheet ...

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