Reconciliation of settlements with counterparties: why do you need a reconciliation report and how to draw it up correctly?


Debt offset

Debt adjustment is a business transaction that has a direct impact on the total result of mutual settlements.

First, it’s worth understanding in what cases the “Debt Adjustment” document is needed.

Adjustments are most often formed on the basis of documents such as a reconciliation act, an information letter from the counterparty, or under an additional agreement or contract. If the data of the supplier and the buyer do not match, for example, incorrect information was taken into account, errors were made in the documents, or changes were made that were not agreed upon with the other party to the contract, it is necessary to make an offset.

To carry out offsets, go to the “Sales” or “Purchases” section, select the “Debt Adjustment” document and click the “Create” button.

Then you need to select the type of operation. The program provides five different types: advance offset, debt offset, debt transfer, debt write-off and other adjustments. Directly for offset, 3 out of 5 options can be used: advance offset, debt offset and other adjustments.

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