Three-way matching

What is three way match for invoices, purchase orders and goods or services:

The 3 documents referred to in three-way matching are:

  • Vendor's invoice
  • Purchase order
  • Receiving documentation

Three-way match in accounts payable allows you to match vendor's invoices with purchase orders and received quantities of goods or services before the invoices are processed and paid. It automates the verification of these documents to ensure that an invoice should be paid. (Prior to this release, Concur offered two-way matching, which verifies that purchase order and invoice information match.)

Three-way match mitigates:

  • Paying for invoices on things that have not yet been received
  • Late payments and penalties
  • Duplicate payments
  • Unauthorized, unapproved or fraudulent purchases
  • Theft and embezzlement

Concur Invoice and three-way match

Concur Invoice allows clients to be able to import received quantity information as and when they receive them in their receiving system, and do not have to aggregate these quantities. This means that Concur Invoice can now process partial receipts of purchase order lines.

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