Billing Reconciliation

Our Billing Reconciliation involves the process of comparing financial records to ensure accuracy and consistency between various sources of data, such as invoices, payments, and account statements. This process typically involves:

Matching Records

Comparing the amounts on invoices with the corresponding payments made, ensuring they align correctly.

Identifying Discrepancies

Investigating any discrepancies or differences between the expected and actual amounts.

Gathering Data

Collecting invoices, payment records, and other relevant financial documents.

Resolving Discrepancies

Addressing and rectifying any discrepancies found, which may involve contacting vendors or clients to clarify or correct billing issues.

Recording Adjustments

Documenting any adjustments or corrections made during the reconciliation process for future reference.

Reconciliation Reporting

Summarizing the reconciliation findings in a report or statement, detailing any outstanding issues and actions taken to resolve them.

Overall, CBG’s billing reconciliation is crucial for maintaining accurate financial records, identifying errors or discrepancies, and ensuring transparency and compliance in financial transactions.