Balancely helps finance teams reconcile supplier statements, match invoice references, detect missing invoices, and resolve amount mismatches before payment runs.
Supplier statement reconciliation is the process of checking a supplier's monthly statement against the invoices you have received. The goal is to confirm that every line on the statement has a matching invoice in your records, the amounts agree, and any discrepancies are identified and resolved before payment.
Most businesses receive a supplier statement at the end of each month showing all outstanding or recently settled transactions. Reconciling this statement means cross-referencing each invoice number or reference against your own records to find what matches, what is missing, and what shows a different amount.
Many finance teams still reconcile supplier statements using spreadsheets, email searches, and printed document stacks. This approach is time-consuming, error-prone, and difficult to audit. Invoice references are easy to miss, amounts are easy to misread, and the process is hard to hand over or review under month-end pressure.
Upload a supplier statement to Balancely and the system extracts each invoice reference and line amount. These are compared against your invoice records, and each line is classified into one of three outcomes.
Matched
The invoice reference and amount align with a record in your system.
Missing
The reference appears on the statement but there is no matching invoice in your records.
Mismatch
The reference exists in both places but the amounts differ and need investigation.
If your team uploads invoices throughout the month, Balancely checks the month-end supplier statement against the invoices already in the system. Lines with matching invoices are confirmed; lines without a match are flagged as missing.
If invoices are collected at month end, upload the supplier statement and invoice files together. Balancely extracts the document data and reconciles the statement references against the uploaded invoices in a single process.
Some suppliers send one PDF containing statement pages followed by invoice copies. Balancely can identify the statement section, split out the individual invoice pages, and reconcile the results. Learn more about invoice matching within Balancely.
When Balancely finds a statement line with no matching invoice, it flags that line as missing. Your team can request the invoice from the supplier before the payment run, avoiding the risk of paying for something not formally received or reviewed. Read more about how Balancely detects missing invoices.
Amount mismatches occur when an invoice reference appears on both the statement and in your records, but the totals differ. This can indicate a credit note not applied, a disputed amount, or a data entry error. Balancely surfaces these clearly so finance teams can investigate and resolve them before payment is authorised.
Supplier statement reconciliation software is useful for any business that manages supplier accounts with credit terms and monthly statements.
Supplier statement reconciliation is the process of comparing a supplier's monthly statement against the invoices your business has received. The goal is to confirm that every statement line has a matching invoice in your records, the amounts agree, and any discrepancies are identified before payment.
Balancely extracts invoice references and amounts from an uploaded supplier statement, then compares them against invoice records in your account. Each statement line is classified as matched, missing, or a mismatch based on the comparison result.
A missing invoice means a reference appears on the supplier statement but there is no corresponding invoice in your records. This could mean the invoice was never received, was filed elsewhere, or needs to be requested from the supplier before payment is approved.
An amount mismatch occurs when an invoice reference appears on both the statement and in your records, but the totals differ. This can indicate a credit note, a pricing dispute, or a data entry error, and should be investigated before the invoice is approved for payment.
Yes. Balancely supports combined statement packs where a supplier sends one PDF containing statement pages followed by invoice copies. The system identifies the statement, separates the invoice pages, and reconciles the results.
Not necessarily. Balancely supports a month-end batch workflow where you upload the supplier statement and invoice files together in one process. It also supports a daily invoice workflow where invoices are already in the system before the statement arrives.
Stop manual cross-referencing at month end. Balancely helps your team match statements, surface exceptions, and close the month with confidence.