Lido extracts every line item from vendor account statements, compares each entry against your AP ledger, and flags discrepancies, missing invoices, duplicate payments, amount mismatches, and credits not applied. What takes your AP team a day per vendor takes minutes per batch.
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Vendor statement reconciliation is a control that most AP teams do too rarely because it takes too long. When it's automated, the control runs every month without anyone scheduling time for it.
Monthly vendor account statements arrive as PDFs, by email, through a vendor portal, or from your supplier's EDI system. Lido picks them up from a watched inbox or folder and extracts every line item: invoice number, invoice date, invoice amount, payment applied, credits applied, and current balance due.
Lido receives your current AP ledger as a data export or pulls it via API. Each line item on the vendor statement is matched against the corresponding record in your ledger. Matches on invoice number, amount, and payment date confirm that both sides agree. Mismatches are flagged with both values visible side by side.
Not all discrepancies are the same problem. Lido classifies each one: "Invoice on vendor statement not in AP ledger" (you may owe money you've missed), "Invoice in AP ledger not on vendor statement" (may indicate a payment not acknowledged), "Amount mismatch: statement shows $8,400, ledger shows $8,040" (likely a transposition error), "Payment on vendor statement not reflected in AP ledger" (duplicate payment risk).
If the vendor's statement shows a credit balance, from returned goods, an overpayment, or an early payment discount. Lido flags it. Unapplied credits that your ledger does not reflect mean you are paying more than you owe. Each flagged credit comes with the statement line and the reference to the source transaction.
The output is a reconciliation workbook: one row per statement line item, with the statement amount, the ledger amount, the match status, and the discrepancy type. Matched rows are confirmed. Flagged rows require AP action, investigate, resolve, and document. The workbook becomes the reconciliation support for your month-end close package.
Upload a batch and get structured output in minutes.
Supplier-issued monthly account statements listing open invoices, applied payments, credits, and account balance. Any vendor format, any layout.
Electric, gas, water, and telecom utility bills showing account charges, prior balance, payments received, and current balance due.
Vendor-generated aging summaries showing invoices by age bucket (current, 30, 60, 90+ days). Useful for identifying invoices that have aged in the vendor's system but not been received.
Corporate card statements listing transactions, merchant names, amounts, and dates. Reconciled against expense submissions and GL coding.
Statements from related entities for intercompany services, cost allocations, and shared service charges. Reconciled against intercompany receivables on the counterparty.
Statements from factoring companies or banks that have purchased vendor receivables. Payment goes to the factor, not the original vendor, reconciled against factor statements.
Monthly vendor statement reconciliation is on the AP calendar but never gets completed. A statement from Grainger arrives with 34 line items. Reconciling it means opening your AP ledger, scrolling through hundreds of transactions, finding each matching entry, and noting every difference in a separate workbook. For 20 active vendors, that's a week of work done well, or a control that gets signed off without being completed. Either way, duplicate payments, missing invoices, and unapplied credits accumulate until they surface as surprises in an audit.
Lido extracts the vendor statement, pulls your AP ledger data, and produces the reconciliation comparison in minutes. Every line item is matched. Every discrepancy is classified. Your AP team reviews the flagged items, not the entire statement. The reconciliation runs every month without anyone scheduling a "statement rec week."
| Feature | Lido | Manual process |
|---|---|---|
| Extract statement line items from any vendor format automatically | ✓ | ✗ |
| Compare each line against AP ledger records automatically | ✓ | ✗ |
| Classify discrepancy type (missing, duplicate, mismatch) | ✓ | ✗ |
| Flag unapplied vendor credits before the next payment run | ✓ | ✗ |
| Produce audit-ready reconciliation workbook per vendor | ✓ | ✗ |
| Open the statement and match each line yourself | ✓ | ✓ |
Run it every month automatically and catch duplicate payments and missing invoices before they become audit findings.
A mid-size manufacturer pays 30 active suppliers on net-30 terms. Statements arrive in the first week of each month. Lido reconciles all 30 statements before the payment run, catching two duplicate payment risks and a $4,200 unapplied credit in February alone.
A distributor pays 15 carriers weekly. Carrier statements are reconciled against the rate confirmations and freight invoices processed that week. Duplicate billings for the same load, a common carrier billing error, are flagged before payment is released.
A firm with 40+ SaaS subscriptions reconciles vendor statements quarterly. Lido identifies subscriptions billed at the wrong tier, seats billed for terminated employees, and credits from cancelled licenses not reflected in the AP ledger.
A holding company with shared vendors across subsidiaries reconciles vendor statements at the consolidated level. Lido compares the vendor's total balance against the sum of AP ledger balances across all entities, flagging discrepancies that are hidden when each entity reconciles independently.
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