3 Way Invoice Matching

Parent Previous Next

3 Way Invoice Matching

 

The 3 way Invoice Matching process operates by first checking if the Purchase Order exists, then if the Purchase Order information matches against the Invoice information and finally has the line been received and matches Receiving information against the Purchase Order and Invoice information.

 

To create a voucher, in the Invoice Header screen of Invoice Matching Entry, the user will choose the New record selection. The cursor will appear in the PO Number (Purchase Order Number) field. Type in, or use the lookup function to locate the Purchase Order number with which you are working. The system will validate that the PO Number entered exists. The system will then access information associated with the Purchase Order selected. The Vendor, PO Type, and Entity information will appear in the appropriate fields. Invoice Type will default to a Regular Invoice.

Next, enter in the Invoice Number, and then information relating to the invoice will appear automatically in the proper fields, including the Remit To, Freight On Board, and Terms. Key in the Invoice Date (the default is today's date) or use the calendar. Due Date and Discount Date information will appear based on Terms Master File selection. You will need to enter any Miscellaneous Charges, Tax and/or Discount associated with the invoice. The Tax may automatically be calculated by the system, based on System Options. Enter the Total Amount for the Invoice. The system will calculate the Net Amount for Invoice and the Voucher Detail Total.

 

On the Detail tab, the associated lines from the Purchase Order that have been received and not previously invoiced for, will display to be matched.

 

Below is the hierarchy of Exceptions in the matching process:

 

For Regular Purchase Orders:

 

  1. Cost on Invoice is Greater Than Cost on the Purchase Order.
  2. Quantity on Invoice is Greater Than Quantity Received.
  3. Item is not on the Purchase Order.
  4. Total Quantity of All Invoices against the Purchase Order for the item is Greater Than Quantity Received.

 

Optional Exceptions:

 

  1. Cost on Invoice is Less Than Cost on the Purchase Order.
  2. Quantity on Invoice is Greater Than Quantity Ordered.
  3. Total Quantity of All Invoices against Purchase Order for the item is Greater Than Quantity Ordered.
  4. VAT (Value Added Tax) Code on Invoice is Different Than Purchase Order.
  5. Tax Exception Vendor. If marked as a Create Tax Exception in the Remit Master File, creates the exception if a vendor charges tax when that vendor is listed as a tax exception vendor.

 

For Not To Exceed PO only:

 

  1. Total Cost on Invoices is Greater Than Cost on Purchase Order.
  2. Total Costs on Invoices Exceeds Purchase Order Total.