Are you doing Sundry Debtors and Sundry Creditors reconciliation?

Question

Accepted Answer

Yes, I am doing Sundry Debtors and Sundry Creditors reconciliation.

I regularly reconcile Sundry Debtors and Sundry Creditors accounts to ensure accuracy and completeness of financial records.
I compare the balances in the accounts with the corresponding customer or vendor statements to identify any discrepancies.
I investigate and resolve any differences found during the reconciliation process.
I maintain proper documentation of the reconciliation process for audit purposes.
For example, I recently reconciled the Sundry Debtors account and found a discrepancy of $500. Upon investigation, I discovered that a payment from a customer was not recorded in the system.

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