statement?

Question

what i have to write on the suppliers statement account if the balance is talying according to my statement

Answer 1

If your supplier sent you a statement of account at month-end and the amount tallies to your a/cg records, you just write "Agreed" on the statement, initial it, and file it away. No action is needed and no a/cg entry is needed. If your co. has external auditors, this will show them that you do check the accuracy of your own records AND leave an audit trail. This is what is called a detective control (as opposed to a preventive control).