![]() In this case, the invoice details are matched to the contract and payment plan instead of to a purchase order. If this type of indirect expense is regulated by a vendor contract with a payment plan - such as when using contractors, leasing office space or employing cleaning services - invoice matching can be done automatically in AP automation solutions. Purchase orders are often not used for indirect expenses as a result, these invoices usually fall outside of the invoice matching process, requiring manual handling. To enable automated 3-way matching, you need to ensure that master data, including vendor ledgers, purchase order details and goods receipts, can synchronize seamlessly between the ERP system and the AP automation solution. Most companies use 3-way invoice matching. adds another criterion to verify that the invoice details also match the acceptance or inspection document in the case this step is part of the purchasing process.verifies that invoice information matches both the purchase order and the goods receipt. ![]() verifies that invoice information matches the corresponding purchase order.These refer to the number of supporting documents against which an invoice is matched. ![]() ![]() You might have heard of these different levels of invoice matching. The same report found that the average invoice exception rate among surveyed companies was 22.5% in 2021. Unfortunately, the issue with deviations is a sizable one. In fact, Ardent Partners’ State of ePayables 2021 Report shows that 45% of organizations see exceptions as a top challenge for accounts payable. Managing deviations is often one of the most time-consuming tasks in the AP department. When a deviation is identified as part of the invoice matching process, an investigation is needed to understand if this is an acceptable deviation and the invoice can be pursued to payment or if the vendor needs to be contacted to correct the errors on the invoice.
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