Paste your confirmation log with the balance per books, the dates sent and replied, and the balance the other party gave. The tool shows who has replied, who needs a follow-up, where the reply differs from the books, and how much of the balance has been confirmed.
Paste from Excel or CSV. Leave the reply cells blank until a reply comes in. Dates can be dd/mm/yyyy, dd-mm-yyyy or yyyy-mm-dd.
Set the follow-up period and the amount from your audit plan. Nothing here is a prescribed limit. A reply does not end the work: reconcile every difference and perform alternative procedures where there is no reply.
| Party | Type | Books | Reply | Difference | Status |
|---|---|---|---|---|---|
| Northwind Logistics | Debtor | 12,60,000.00 | - | - | Follow-up due (2216 days) |
| Kiran Supplies | Creditor | 3,10,000.00 | 3,55,000.00 | 45,000.00 | Difference |
| Meera Services LLP | Debtor | 92,000.00 | - | - | Follow-up due (2216 days) |
| Orion Metals | Creditor | 5,40,000.00 | - | - | Not sent |
Sending the letters is the start. What counts is how many came back, from whom, and what the differences turn out to be. Most differences are timing: a payment in transit, a credit note not yet booked. Reconcile each one, and for parties who never reply, plan alternative procedures such as tracing to later receipts or to delivery proof.
A party with a reply date or a reply balance counts as replied. The balance per reply is compared with the balance per books. A difference larger than the amount you set is shown as a difference; otherwise the reply is agreed.
A party with no reply and a sent date is awaiting a reply. If the days from the sent date to your as-of date are more than the follow-up period, it is shown as follow-up due. A party with no sent date is shown as not sent.
The response rate is replies as a percent of confirmations sent. Coverage is the balance per books of the parties who replied, as a percent of the total in the log.
A creditor is carried at 3,10,000 in the books and confirms 3,55,000.
