When approving supplier’s invoices for payment, a two-way match reconciles the purchase order and the supplier’s invoice, in order to determine whether the invoice should be paid. This is essential where there is no receipt, for example for rental or other ongoing payments without physical performance, but may be extended to lower value categories. Most organisations seek a three-way match in most situations to confirm that the work has been done. See also Invoice, Recipient Generated.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
