When invoice' item description is not match exactly with the purchase order (PO)'s description, what will be the best practice for finance system to handle 2 ways/ 3 ways matching between PO, GR (Goods Receipt) and IR (Invoice Receipt), for a seamless invoice handling with minimal manual human intervention to assign the invoice against the correct PO lines?
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Assistant Controller South West Europe in Consumer Goodsa year ago
PO number should be the key element for 3 way matching (+ vendor, amount,…)
The easiest solution would be to require invoices to include PO line numbers. That way if they don't match it doesn't matter as long as the PO line number matches (and of course the line amount matches within your predefined tolerances).