How you verify and validate invoices?

Question

Accepted Answer

To verify and validate invoices, I follow a systematic process that includes checking for accuracy, authenticity, and compliance.

Review the invoice for accuracy in terms of amounts, quantities, and descriptions
Verify the authenticity of the invoice by cross-checking it with supporting documents such as purchase orders or delivery receipts
Ensure compliance with company policies and procedures, as well as legal and regulatory requirements
Confirm that the invoice has been properly authorized and approved
Perform a thorough reconciliation of the invoice with the corresponding financial records
Validate the vendor's information and contact them if necessary to clarify any discrepancies
Use automated tools or software to detect any anomalies or potential fraud
Maintain a comprehensive audit trail of the verification and validation process

Accepted Answer

Invoice number and date

Bill to party and ship to party

Bill to address and ship to address

Hsn and sac code

Description

Calculation of invoice

Tax rates

Invoice are authorised or not

These kinds of information, i need to check before processing any invoice.

Accepted Answer

First of all we'll check the PO no, invoice date and the ship to address afterwards we'll go for the quantity price total and if it matches the required data then match the invoices

Accepted Answer

For this first I need to check all fields like invoice no, bill to party , ship to party , quantity, rate calculation and the invoice is properly sign and authorised.

How you verify and validate invoices?

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