Analyzing 3-Way Match Failures [Accounts Payable Process]

What do you do with the data related to accounts payable process three-way matches that go wrong, i.e., invoice, the purchase order and the receiving document don’t match? There’s a wealth of business intelligence in that data – if you choose to collect and analyze it. It can – and should – be used to drive process improvements across your entire procure to pay chain, not just your accounts payable function. In this episode we’ll show you why you
should analyze the data and a rather simple way to do it and how to use this data to fix problems in your AP shop, in parts of purchasing and with your supplier’s billing group.

The data from failures of the three-way match in accounts payable from processing accounts payable invoices, should be tracked. An analysis of the data from the three way match in accounting or the three way match in accounts payable can provide valuable insights into not only the accounts payable process but the entire procure to pay chain.

Accounts payable and accounting require the use of both accounts payable best practices and strong account payable internal controls. For the accounts payable process to work well, best practices for AP should be used. By their very nature, accounts payable best practices incorporate strong internal controls and avoid AP control weaknesses.

Link to 3 Reasons Invoice Get Paid Twice
https://youtu.be/uIAJ5V-q028

Subscribe now: https://www.youtube.com/APNow?sub_confirmation=1

Learn more about AP Now at www.ap-now.com

Host: Mary Schaeffer (www.ap-now.com)