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External vs. Internal Reconciliation

Former Member
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What is the difference between External and Internal Reconciliation? What I am wondering is when you use which?

Thanks,

Martha

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Martha,

the internal reconciliation u use for accounting of bookings of B1. Eg. A BP have an invoice and a reverse invoice, there u could use the reconciliation for balance both together.

The external reconciliation u use for linkingt bank statements to internal bookings. Eg. You got incoming payments in B1 (manually booked) and the bank statement is not linked, you could link bank statements to incoming payments.

Regards

Former Member
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Thank you. That was what I thought.

Answers (0)