Customer Balance Confirmation Letter Template Rating: 7,0/10 3481 votes

When an auditor is examining the accounting records of a client company, a primary technique for verifying the existence of accounts receivable is to confirm them with the company's customers. The auditor does so with an accounts receivable confirmation. This is a letter signed by a company officer (but mailed by the auditor) to customers selected by the auditors from the company's accounts receivable aging report. The letter requests that customers contact the auditors directly with the total amount of accounts receivable from the company that was on their books as of the date specified in the confirmation letter. The auditor typically selects customers for confirmation that have large outstanding receivable balances, with secondary consideration given to overdue receivables, followed by a random selection of customers having smaller receivable balances.

Since the information obtained through confirmations is obtained from a third party, it is considered to be of higher quality than any information that an auditor could have obtained from the client company's internal records.

Customer Balance Confirmation Letter Template

A bank confirmation letter (BCL) is a letter from a bank or another financial institution confirming the existence of a loan or a line of credit that has been extended to a borrower. C-2 Accounts Receivable Confirmation - Positive Request Example 1: (Prepared on client’s letterhead). The balance due (insert client’s name) shown above as of December 31, 200X is correct. If the auditor believes that an itemized customer statement of the balance due would assist the customer in reconciling the amount due as of the. Balance Confirmation Letter Format Posted on October 30, 2013 by Sara Mathur 13 Comments Here is very simple letter format for mailing Account balance to customer as well as asking him to provide confirmation for the same.

Vendor/Customer banlance confirmation hi Can any one tell me about Vendor/Customer banlance confirmation basically for 31st march with balance conformation letter send to party, is it any transaction for this activity in stander SAP Report. Request For Account Verification During Audit, Free sample and example letters. Sample Letters for Request For Account Verification During Audit - iSampleLetter. Please sign the confirmation form in the space provided below if this amount agrees with your records. If it does not agree, do not sign below but explain and sign on the. A positive confirmation request can also show the dollar amount owed as blank, requiring the customer to fill it in according to its records. Negative confirmation: A negative confirmation request asks the customer to reply only if the figure shown on your letter is incorrect.

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There are two forms of confirmation, which are:

Balance Confirmation Template

  • Positive confirmation. This is a request to provide a response to the auditor, whether or not the customer agrees with the receivable information listed in the confirmation.

  • Negative confirmation. This is a request to contact the auditor only if the customer has an issue with the accounts receivable information contained within the confirmation. This is a less robust form of evidence, since there is an inclination by customers to not contact the auditor, which leads to the presumption by the auditor that customers agree with the presented accounts receivable information.

Account Balance Confirmation Letter

If customers do not return confirmations to the auditor, the auditor may go to considerable lengths to obtain the confirmations, given the high quality of this form of evidence. If there is no way to obtain a confirmation, then the auditor's next step is to investigate subsequent cash receipts, to see if customers have paid for those invoices that were not confirmed. This is a strong secondary form of evidence that the accounts receivable outstanding at the end of the reporting period being audited were in existence at that time.

If the information received from a customer varies from the receivable amount listed in the company's receivable report, the auditor usually asks the company to reconcile the difference, which the auditor can then take further action on, as necessary.

Balance

Related Courses

How to Audit Receivables
How to Conduct an Audit Engagement
The Balance Sheet

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Customer Balance Confirmation Letter Template Printable

Business & Finance > Credit > Letter > Outstanding
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Letter reply to customer there is no outstanding balance no outstanding balance
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Outstanding balance confirmation letter format?
Letter reply to customer there is no outstanding balance no outstanding balance



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Balance Confirmation Letter Format


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Customer Balance Confirmation Letter Sample


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