![]() ![]() ![]() When auditors require supporting documents for payments, having the GRN and PO available to back up the payments made not only makes the process quicker and provides full visibility of the audit trail but also shows transparency. It is easier to keep track of goods ordered, price differences for the same goods from multiple suppliers, late deliveries, part shipments etc enabling the procurement team to be more agile with ordering and more effective at cost saving. 3 way matching and 2 way match are part of the purchase order (PO) invoice process. Transaction details should remain consistent. If there is a dispute over an invoice having this transparency makes it easier if it comes to litigation. The term 3-way matching in accounts payable refers to the practice of cross-referencing three key documents. Knowledge of goods ordered, delivery & settlement dates makes it easy to see what has been delivered, and paid for. Receive end-to-end automated invoice processing capabilities to streamline operations and improve spend visibility. Matching an approved purchase order with a GRN and invoice prevents paying for undelivered goods/services and minimizes unethical employees colluding with suppliers for fraudulent gain. They follow an approval process to ensure business need, approved supplier, and budget allowance. ![]() Purchase orders are created in line with business rules, and many companies have a No PO No Pay policy. Automate and streamline purchasing and vendor management and invoice approval to fast-track payments. ![]()
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