supplier statement reconciliation trade payables control account reconciliation

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Kim Smith.

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September 2, 2021 at 4:07 pm #633999
Noah098
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maam if a company does not perform supplier stamen reconciliation OR trade payables control account reconciliation then that only affects the accuracy of trade payables right? Or it does affect the accuracy of purchases figure also?
September 3, 2021 at 8:34 am #634100
Kim Smith
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THINK “double entry” – if payable hasn’t been recorded – the other side of the entry (purchases) hasn’t been recorded either.
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