what is 3 way and 4 way match

Question

Accepted Answer

3 way match compares purchase order, goods receipt and invoice. 4 way match adds payment to the comparison.

3 way match ensures that the quantity and price on the invoice match the purchase order and goods receipt.
4 way match adds the payment to the comparison to ensure that the vendor is paid correctly.
This process helps prevent overpayment or underpayment to vendors.
Example: A company orders 100 units of a product, receives 100 units, and is invoiced for 100 units at the agreed-upon price. A 3 way match would ensure that all three documents match.
Example: A company orders 100 units of a product, receives 100 units, is invoiced for 100 units at the agreed-upon price, and pays the vendor. A 4 way match would ensure that all four documents match.

Accepted Answer

Matching is a process performed for goods and services ordered through a purchase order that takes place during the online invoice approval process. Invoices are matched to purchase orders (2 way matching), receiving information (3 way matching), and inspection information (4 way matching) as applicable.

what is 3 way and 4 way match

Top HCLTech Accounts Payable Analyst interview questions & answers

Popular interview questions of Accounts Payable Analyst

Top HR questions asked in HCLTech Accounts Payable Analyst