Three-way refers to the three documents involved:
- Vendor's invoice which was received and will become part of an organization's accounts payable if approved.
- Purchase order that was prepared by the organization.
- Receiving report that was prepared by the organization.
After the vendor's invoice has been validated by the three-way match, it can be further processed for payment.
The three-way match is an important step in safeguarding an organization's assets.
To learn more, see the Related Topics listed below: