How often should my company should be sending out statement letters to vendors to determine outstanding credits and debits?

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Our experts do not have a fixed recommendation, as it may depend on your business and the vendor, but rather suggest as frequently as feasible, but at least annually. When requesting statements, it’s important to request complete statements that include all account activity, including any open credits and cash on account/unapplied cash amounts. Periodic review of statements is important to ensure your account is in good standing and allows you to address any outstanding issues.

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