Term
What is reconciliation (afletteren)? Meaning and explanation
Reconciliation (afletteren) is offsetting an open invoice against the related payment in the books, so the item is marked as settled and no longer appears as an open receivable or payable.
Definition
Reconciliation (afletteren) is offsetting an open invoice against the related payment in the books, so the item is marked as settled and no longer appears as an open receivable or payable.
Also known as: Afletteren, Reconciliation, Matching open items, Vereffenen
The Dutch term afletteren comes from the old practice of marking matching items with the same letter. An open purchase or sales invoice is linked to the payment or receipt, after which both items count as settled. Only after reconciliation does the open items list show which invoices really still have to be paid or collected.
For a firm, reconciliation is essential for reliable receivables and payables overviews. Unreconciled items lead to incorrect reminders, wrong balances in the annual accounts and questions from clients. Manual reconciliation takes a lot of time once payments do not match exactly, for example with partial payments, batch payments, early payment discounts or credit notes offset against an invoice.
Autoboeker reconciles automatically in Exact Online, Twinfield and SnelStart when a bank match scores above the confidence threshold you set. Below it, a proposal is ready and deviating amounts and payments are flagged for review. You can set custom matching rules and apply a matching policy across administrations. Every match and reconciliation is traceable in the audit log. Automatic reconciliation is not available for e-Boekhouden.
Example
A customer pays an invoice of 500 euros. After the bank line is matched, the invoice is reconciled and disappears from the list of open receivables.
FAQ
Questions about reconciliation (afletteren).
Yes. In Autoboeker, reconciliation in Exact Online, Twinfield and SnelStart happens automatically once a bank match scores above your confidence threshold.
The difference is flagged. Partial payments and credit notes are recognised, and doubtful cases wait as a proposal for review instead of being reconciled silently.
Further reading
Related in the knowledge base.
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