![]() The buyer acknowledges a receiving report issued by the supplier as proof of payment and order completion.Ħ. ![]() Checking will be done through an invoice approval process.ĥ. Invoice details will be checked if contents match the PO. The buyer receives an invoice from the supplier based on the PO.Ĥ. An accounts payable (AP) department creates an invoice based on the PO.ģ. ![]() A corresponding PO is sent to the supplier based on the order placed.Ģ. The buyer places the order with the supplier. The three-way matching process works systematically, and as follows:ġ. Also, auditors will not have a hard time checking the data presented. If documents are complete and error-free, compiling them becomes hassle-free. As a result, they consider the company as a reputable and trustworthy business partner.Ī three-way match can also make auditing and bookkeeping easier. When necessary documents are fulfilled and submitted on time, suppliers feel important and valued. ![]() With the three-way match, overpaying and other potential payment problems are immediately flagged down even before delivery.Ī three-way match also strengthens supplier relations. Any wrong information and duplication can lead to fraudulent vendor’s invoices and overpaid transactions. Consistency and accuracy of data are essential in any payment process. One benefit of a three-way match is to help the company save time and money. The three main benefits of the three-way matching process focus on eliminating any discrepancies in the purchasing process. ![]()
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