Accounts receivable (debtors) reconciliation

Video Overview

`This tutorial will look at accounts receivable reconciliation, also known as debtors reconciliation. In most businesses today, a credit facility is offered to customers for various reasons. In some businesses the accounts receivable department is large enough to have some bookkeeping staff working all day every day in this department only. When working with the debtors control account, this gives us an exact figure of how much all debtors owe us in total. To determine the amounts owed by each individual debtor, we make use of the debtors ledger and draw up a debtors list which comprises of the balances of each debtor in the debtors ledger. Then we need to reconcile the debtors list with the debtors control account in the general ledger to make sure everything is in balance. This tutorial will take you through the process involved.

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