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Two-way matching is an accounts payable (AP) process where the details of an invoice are compared and verified against a corresponding purchase order (PO). This ensures that the goods or services billed match what was ordered in terms of quantity, price, and other specifications.
In the account payable process – the procurement and receiving stage, the 2-way, 3-way, and 4-way matching plays a vital role. It is worth investing in this control to make sure your business doesn’t pay for things you didn’t receive or overpay for things you did. The topics we discuss.
4 Σεπ 2023 · The matching process in accounts payable is when invoices are matched with other supporting documents to verify their validity and payability. Two-way matching is the most basic invoice-matching process. This process can protect you from fraud and potential leakages and help you save money.
7 Οκτ 2024 · 2-way and 3-way matching in accounts payable is a vital task for an organisation. It ensures that you pay for what you have purchased and helps in avoiding fraud. This process allows the business to save time and money, reduce mistakes and grow faster.
26 Ιουν 2024 · Streamline your client’s accounts payable process with our free accounts payable Excel template (also Google Sheets). Improve cash flow, track payments & boost financial health.
1 Ιουλ 2024 · Streamlining accounts payable processes with two-way matching is a powerful way to enhance financial control and efficiency. By integrating capable Veryfi OCR, businesses automate data extraction, improve accuracy, prevent fraud, and reduce costs.
18 Οκτ 2023 · PO matching is also fundamental for procurement and accounts payable, contributing to overall business success. Accounts payable automation tools can help improve the PO matching process, and save time for your team.
