Vendor:

Vendor reconciliation is A statement received from vendor which contains

details of invoices of that vendor for a perticular period, vendor wants to
confirm that these invoices has been paid or not, the balance vendor has open for
this invoices shoudl match the payment made to that vendor.
In accounting, reconciliation is the process of ensuring that two sets of records
(usually the balances of two accounts) are in agreement. Reconciliation is used
to ensure that the money leaving an account matches the actual money spent.
A bank reconciliation is used to compare your records to those of your bank, to
see if there are any differences between these two sets of records for your cash
transactions. ... The result could be an overdrawn bank account, bounced checks,
and overdraft fees.