Can I see what I still owe each supplier and what they owe me without going through every booking by hand?
Yes, in most cases the system can show you a running position for each supplier, but how complete that picture is depends on how each supplier sends you information.
Every booking in the system already carries two figures, what the supplier charges you and what your customer paid. From those it can build a supplier statement for any period, showing the bookings made, the amount due on each one, what you have already paid and what is still open. For suppliers you buy from on credit, that is usually enough to tell you your outstanding balance before their invoice even arrives. For suppliers you pay at the moment of booking, the balance is normally nil, and the more useful report is the commission or incentive you are still waiting to be paid.
The honest limit is reconciliation. The system knows what it recorded, not what the supplier's accounts department believes. Cancellation charges, date changes, refunds that land late, taxes handled differently and bank charges all create small gaps, and plenty of suppliers still send statements as spreadsheets or PDFs rather than through a live connection. Those have to be matched against your own figures, either by your accounts person or by importing the statement if its layout is steady enough to map.
Before you lean on it, take your two or three biggest suppliers and compare one full month of their statement against the system report line by line. Where the differences come from will show you what needs recording differently, and after that the monthly check becomes a short job instead of a week of hunting through old emails.
