What is a reconciliation act?

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A reconciliation report is a document in which the parties to a contract compare and record the state of settlements at a certain point. A signed report means that the partners have acknowledged the amount of debt or the absence of debt.

When the parties draw up a deed, they check mutual transactions. Mutual settlement is the exchange of money, property and services between companies. When entrepreneurs enter into an agreement, usually each of them is obliged to transfer something to the other. If a partner wants to check the results of work, he draws up a reconciliation act.

Alexander Sidorov owns a coffee shop. He buys coffee, sugar and indonesia telegram mobile phone number list tea from OOO Mokko, milk from farmer Ivanov, and baked goods from the Pirozhok bakery. To check transactions with suppliers, Alexander created a reconciliation report for each partner for the last six months. In the table, he indicated the payments he transferred to counterparties and the amounts of deliveries, and at the end he summed up whether there was any debt and in what amount.