The 3-Way Match Accounts Payable is a business process that is used to ensure accuracy and efficiency in the payment of invoices. It involves three different documents: the purchase order, the invoice, and the goods receipt. The three documents must match in terms of quantity, price, and description before the payment is made. This process helps to ensure that the correct goods or services have been received and that the invoice amount is correct. It also helps to prevent fraudulent activities such as overcharging or incorrect billing. The 3-Way Match Accounts Payable process is an important part of any business’s financial management system and is essential for the accurate and timely payment of invoices.
