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Question: what documents are required before verifying invoice? what is the process if the supplier passes an invoice for more amount?
Answer: for ex: if the value of the goods is say Rs.5000,and the supplier sends the invoice for Rs.6000. |
| May 05, 2008 05:17:43 |
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| Mary Schaeffer |
Member Since: May 2008 Total Comments: 1 |
RE: what documents are required before verifying invoice? what is the process if the supplier passes an invoice for more amount?
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The traditional three way match would apply here. This means the accounts payable processor should compare the purchase order with the receiving document and the invoice. If all three match, the invoice can be paid - although may organizations still insist that the invoice be approved. This approval is in addition to the matching process. If the invoice is for a larger amount, it is considered discrepant and the discrepancy must be resolved - the sooner the better.
Mary Schaeffer
author The Controller & CFO's Guide to Accounts Payable (John Wiley & Sons) and twelve other business books
editorial director Accounts Payable Now & Tomorrow (www.ap-now.com) |
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