Three Way Matching
Back to GlossaryWhat is Three Way Matching? Three-way matching is an internal control process used in accounts payable to verify the accuracy of a vendor invoice before payment. It involves comparing three key documents: the purchase order (what was ordered), the goods receipt (what was received), and the invoice (what is being billed). A match across all three confirms that the company is being charged correctly for goods or services actually received. This process helps prevent overpayments, duplicate payments, and fraud. For finance leaders, three-way matching is essential for ensuring financial integrity and strengthening procurement controls.
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A Comprehensive Guide to 3 Way Matching in Accounts Payable
Explore the 3 way matching process in this guide, uncovering its benefits, differences, and automation advantages for robust financial control.
AP automation solution for improved invoice processing I Serrala
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Serrala is the global market leader and pioneering innovator in finance process automation. Our award-winning suite of applications gives finance leaders the power to evolve, optimize their working capital and streamline all workflows, planning, and compliance, by automating all operational processes across Order to Cash, Procure to Pay, Cash Flow Management, and Treasury.
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