In the complex world of logistics and supply chain management, maintaining accurate financial records is paramount. Discrepancies between payment logs and freight logs can lead to significant financial losses, billing errors, and strained partner relationships. The CNFANS Spreadsheet
Discrepancies often arise from simple data entry errors, miscommunication, or timing differences between systems. Common culprits include: The CNFANS approach is systematic, turning raw data into actionable insights. Follow these steps to detect and resolve discrepancies effectively. Gather your Payment LogFreight Log
Use Excel's Formula Example:=XLOOKUP(A2, FreightLog!A:A, FreightLog!C:C, "MISSING") For successfully matched entries, create a new column to calculate the difference between the Paid AmountBilled Amount. Use conditional formatting to automatically highlight any non-zero differences. Example:=IFERROR([@[Paid]]-[@[Billed]], "Check Match"). Format cells where the absolute value is greater than a tolerance (e.g., $10) in red. Create a pivot table or a summary section to categorize the flagged discrepancies. This analysis helps identify patterns: This step transforms individual errors into opportunities for process improvement and contract re-negotiation. Add a "Status" and "Resolution Notes" column to your CNFANS sheet. Log every action taken—whether it's a query sent to a carrier, an internal correction, or a payment adjustment. This creates a vital audit trail for accountability and future reference. The CNFANS Spreadsheet
The Core of the Problem: Why Discrepancies Occur
The CNFANS Cross-Verification Process
Step 1: Consolidate and Standardize Data
Key Identifier
Payment Log Data
Freight Log Data
Shipment/Reference ID
Invoice Number
PRO/BOL Number
Date
Payment Date
Shipment Date
Amount
Amount Paid
Amount Billed
Carrier/Vendor
Payee Name
Carrier Name
Step 2: Employ VLOOKUP or XLOOKUP for Matching
=XLOOKUP()=VLOOKUP()
. This formula searches for the value in cell A2 (from Payment Log) within the Freight Log and returns the corresponding billed amount, or "MISSING" if not found.Step 3: Calculate and Flag Amount Differences
Step 4: Analyze and Categorize Discrepancies
Step 5: Audit Trail and Resolution
Best Practices for Maintaining Accuracy
Conclusion
CNFANS Spreadsheet: A Guide to Detecting Payment and Freight Log Discrepancies
2026-01-12