Invoice 3 Way Match: A Cornerstone of Efficient Invoice Processing
An invoice 3 way match (noun) is a process in which an invoice is compared against both the purchase order and the receiving report to ensure the accuracy of the invoice before it is paid. For instance, a retail store purchases 100 units of a product. The purchase order is for 100 units at $10 per unit, and the receiving report confirms that 100 units were received. The invoice from the supplier is for 100 units at $10.50 per unit.
