Accounts Payable 3 Way Matching is an official business process that helps to ensure accuracy and completeness in the recording of financial transactions. This process involves the comparison of three documents – the purchase order, the invoice, and the receiving report – to ensure that all the details of the transaction match. This process is designed to prevent errors and discrepancies in the recording of financial transactions, as well as to detect and prevent fraud. The process involves verifying that the purchase order, invoice, and receiving report all match in terms of the quantity, quality, and price of the goods or services being purchased. If any of the documents do not match, the transaction is flagged for further investigation. Accounts Payable 3 Way Matching is an important part of the financial management process, and is used by businesses of all sizes to ensure accuracy and completeness in their financial records.