Same invoice, two different months. Both entries are correct.
Compare your ledger with a supplier or customer statement line by line, and see why each difference exists.
Confirmed in three sources
Both statements and the e-invoice record the same line; it feeds the letter summary.
A written reason next to every match. iFinances proposes, you decide.
Illustrative screen · sample data
This page explains supplier statement reconciliation, the line-by-line comparison of your ledger against the counterparty's statement. It is written for CFOs, accounting managers and internal auditors, and shows which item a difference comes from. In Türkiye that ledger is account 320 (trade payables) or account 120 (trade receivables).
The classic loop asks the counterparty for one balance figure. When the answer is "we disagree", the work goes back to a spreadsheet. iFinances matches the transactions first. Whatever remains is listed item by item, with its written reason.
Why statements disagree
Most differences come from six recurring causes. None of them is visible in a balance, all of them are visible in a line.
Timing
Invoice FT-2026-0412 for TRY 48,250.00 was issued on your side on June 18, 2026. The counterparty booked it on July 2, 2026. Two statements dated June 30 show two moments of the same relationship.
Partial payments and application order
The customer paid TRY 30,000.00 against a TRY 48,250.00 invoice. You applied it to the oldest open invoice. They applied it to the invoice named on the remittance advice. The balance agrees, the open-item lists do not.
Exchange differences
The supplier booked a EUR 1,000.00 invoice at the invoice-date rate. You booked the payment at the payment-date rate. The gap is not an error. It is an exchange difference that needs its own line.
Credit notes, discounts, withholding
A credit note was booked net on one side and gross on the other. Withholding VAT (KDV tevkifat) is the share of VAT the buyer remits directly to the tax office. It lands on a different line in each ledger. The balance looks equal, the lines do not match.
Duplicates
The same invoice was entered as FT-2026-0412 and again as 2026-0412. Or the same wire was booked twice. The balance shows a gap. Only the line shows why.
Split accounts
One group counterparty is tracked under two account codes on your side. They keep a single account. Each code is internally consistent, the combined figure is not.
Upload the statement, let the lines match
Setup is a data exercise, not an IT project. Your ERP or accounting system stays where it is.
- 1
Upload your own statement
You export the statement from SAP, Logo, Mikro, Netsis, NetSuite, Dynamics or plain Excel and upload it. iFinances detects column names and sign conventions. Anything ambiguous is asked, not guessed.
statement_2026-06.xlsx · 1,284 lines - 2
Invite the counterparty
You send the counterparty a secure link. They upload their own statement through it, with no account to create. iFinances brings both statements into the same layout.
Secure link · counterparty uploaded - 3
Match line by line
You start the matching run. iFinances matches invoices and payments on amount, date, reference and description. It splits partial payments, allocates bulk payments across invoices and accepts rounding within a fixed tolerance. Foreign-currency items are converted at the TCMB (Central Bank of Türkiye) rate.
INV-0412 ↔ 0412 · 48,250.00 ✓ - 4
Read the difference, with its reason
iFinances lists every unmatched line with a written reason. A typical reason reads "FT-2026-0412, TRY 48,250.00, not present in counterparty statement." You approve or reject each proposal. No line is closed without your approval.
INV-0415 ↔ 0415 · 9,800.00 · 2-day gap - 5
Produce the confirmation letter
You generate a serial-numbered reconciliation letter from the approved result. Each currency gets a summary table with opening balance, invoices, credit notes, collections and net balance. The line list stays linked to the letter on the platform, and the signed copy is archived. An audit sees a document, not a screenshot.
Letter 2026-06/0031 · net ₺19,400.00
A letter tool, or a matching engine?
Two different products are sold under the same name. Seeing the difference in the first demo decides the years that follow.
- Sends one balance figure
- Counterparty clicks agree or disagree
- A disagreement sends the work back to Excel
- Partial payments and FX stay invisible
- Evidence is a sent email
- Priced per letter sent
- Compares the transaction list line by line
- Counterparty uploads their own statement
- The difference is itemized with its written reason
- Partial payments split, FX becomes its own item
- Evidence is a signed letter plus recorded reasons
- Valued per difference resolved
What audit-ready actually means
A balance that agrees is not, by itself, evidence. An auditor, an accountant and a counterparty must be able to read the same three things.
The transaction list is ready. The items behind the June 30, 2026 balance are readable from both sides on one screen.
The clearing trail is ready. The TRY 48,250.00 wire of June 18, 2026 is shown clearing invoice FT-2026-0412, with its reason.
The supporting document is ready. A serial-numbered, signed and dated reconciliation letter sits in the archive.
See it on your own statement
A thirty-minute session, no slides. Bring your statement and your counterparty's, and we will read the difference together.
Frequently asked questions
No. iFinances keeps no books and posts no entries. It reads the statement your existing system exports. SAP, Logo, Mikro, Netsis, NetSuite or plain Excel all work. File upload and direct connection are chosen together during setup.
No. They upload their statement through a secure link you send. No account, no installation, no access to your systems. The file they upload is used only for this reconciliation.
No. Two opposing errors can cancel out. A missing TRY 48,250.00 invoice and a duplicate payment of the same amount leave the balance equal. Until the open items match line by line, an equal balance may be coincidence rather than proof.
Invoices and payments are converted to one currency at the TCMB (Central Bank of Türkiye) rate. If a matched pair still differs because of the rate, the remainder is labeled as an exchange difference. It stops being an unexplained variance.
Yes, and it is a common case. Turkish-format statements, e-invoice (e-Fatura) data and bank lines are reconciled in one place. The output reads in English for group reporting. Account 120 and 320 balances stay traceable to the local ledger.
30 minutes. With your own data.
Live demo. No commitment.
- Live demo — the system, not slides
- No prep, instant walkthrough
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