Supplier Statement Reconciliation

With thousands of invoices passing through your AP department, it’s crucial to ensure that those invoices are processed without errors or that errors are caught and rectified. Overcharges, duplicate invoices, returned items, or overpayments can add up to significant dollar amounts. Dollars that should be kept in your budget. That’s where supplier statement reconciliation comes in.

Supplier Statement Reconciliation ensures that all supplier invoices, credits, and payments have been accurately recorded. Our experts scrutinize supplier statements to ensure financial transactions are recorded accurately, credits are received, and all overpayments are recovered for your business.

During the Supplier Statement Reconciliation phase of each AP recovery audit, we:

  • Reconcile open supplier invoices
  • Match transactions between statements and paid history
  • Identify missing invoices
  • Review documentation to determine whether you received accurate credit for items returned to each vendor
  • Look for opportunities to recovery any overpayments related to returned goods including reclaiming funds for returned items that were already paid for or adjusting accounts payable balances accordingly
  • Improve accuracy and reduce liability by reconciling Received/Not Invoiced inventory to paid invoices

With over 19 years serving clients solely in the healthcare industry, our experts understand the nuances and complexities of healthcare AP systems. We also prioritize the value of the relationship your organization has with each supplier. Our approach to supplier reconciliation is one of transparency, respect, and open communication to enhance existing supplier relationships while creating clearly defined supplier agreements and expectations.

Ensure your general ledger is correct and improve your financial health

PCR Recovers More

Unobtrusive Audit

Our team is dedicated to providing personalized, responsive support by working seamlessly with our clients for low-touch, high-impact service that delivers measurable results.

Vendor Relationships

We recognize and respect the relationships you've built with each vendor. That's why we represent your firm in a manner that's consistent with your corporate culture when we work with your suppliers.

Proprietary Process

We go beyond simple statement reviews and harness the power of data analytics and utilize proprietary technologies to deliver some of the highest recovery rates in the industry

Action Plan

Each audit report includes metrics in addition to recommendations to reduce financial leakage and improve the overall efficiency and compliance of your healthcare financial operations

Focused Solely on the Healthcare Industry
Days to Realize First Recovered Dollar
$ 0
Recovered Per Staffed Bed on Average
Minutes Per Week Spent Reviewing Recoveries
Days to Complete Most Recovery Audits

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