Three-way match
The standard AP control comparing purchase order, receipt and invoice — which does not check contract price.
A three-way match confirms you ordered it, received it, and were billed for that quantity. It is a quantity and existence control.
It says nothing about whether the unit price matched your agreement, because the purchase order price is often keyed from the same supplier quote that is being audited.
Contract price compliance is a fourth check layered on top: invoice price against the price list in effect on the invoice date. Most organizations have the first three and none of the fourth.
Related terms
- Price variance — The difference between the unit price a supplier billed and the contracted price in effect on the invoice date.
- Unmatched reason — The classified explanation for why an invoice line could not be matched to a contracted price.
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