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Reference Guide for Purchase Order Related Three-way Match InvoicesThis document identifies the process for entering three-way match invoice activity. Three-way match is usually associated with materials/goods

How to fill out invoices with 3-way match

How to fill out invoices with 3-way match

1. To fill out invoices with a 3-way match, follow these steps:
2. Gather the necessary documents: purchase order, receiving report, and the vendor invoice.
3. Compare the information on the purchase order with the receiving report to ensure that the correct items and quantities have been received.
4. Match the information on the receiving report with the vendor invoice to verify that the charges are accurate and in line with the goods or services received.
5. Cross-reference the information on all three documents to ensure that they match, including the items, quantities, prices, and any other relevant details.
6. Make any necessary adjustments or corrections if discrepancies are found.
7. Sign and date the completed invoice to indicate that it has been reviewed and verified with a 3-way match.
8. Submit the invoice for payment to the appropriate department or person.
9. Keep copies of the documents for future reference and record-keeping purposes.

Who needs invoices with 3-way match?

1. Companies or organizations that want to ensure control and accuracy in their procurement or accounts payable processes typically require invoices with a 3-way match.
2. This includes businesses that want to prevent fraud, errors, or discrepancies in payment processing, as well as those that need to comply with regulatory or internal control requirements.
3. Additionally, companies that deal with a large volume of transactions or work with multiple vendors often find it beneficial to implement a 3-way match system to streamline their invoice verification process and minimize the risk of incorrect payments.

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What is invoices with 3-way match?

Invoices with 3-way match refers to a process where invoices are matched against purchase orders and receiving documentation.

Who is required to file invoices with 3-way match?

Typically, the accounts payable department or finance team is responsible for filing invoices with 3-way match.

How to fill out invoices with 3-way match?

To fill out invoices with 3-way match, one must compare the invoice with the corresponding purchase order and receiving documentation to ensure accuracy.

What is the purpose of invoices with 3-way match?

The purpose of invoices with 3-way match is to verify that the invoice amount matches the purchase order and the goods or services received.

What information must be reported on invoices with 3-way match?

Invoices with 3-way match must report details such as invoice number, purchase order number, quantity of goods or services, unit price, and total amount.