3 Way Matching or Three-way Matching
Published in
Jul 6, 2021
Three-way matching is an internal control process comparing line item details and totals on a purchase order (PO), receipt for goods (verified receiving document and packing slip), and the vendor invoice sent to the customer. Three-way matching in accounting flags any exceptions for follow-up before paying an invoice.
The 3-way matching process is an evolution. It reflects the shift from handwritten paper documents to computerized accounting software systems for manually entering computer-generated paper documents to today’s efficient automated technologies for matching electronic vendor invoices to digitized purchase orders and receipts.
Learn more about 3-way Matching or Three-way Matching.
