Three-Way Match

A Three-Way Match is a process used in accounting and purchasing to ensure accuracy and prevent fraud. It involves comparing three key documents: the purchase order, the goods receipt, and the invoice. The purchase order outlines what was ordered, the goods receipt confirms what was actually received, and the invoice details what the supplier is charging. By matching these three documents, businesses can verify that they are paying for the correct items at the agreed-upon price, ensuring proper financial control and accountability in transactions. This helps maintain integrity in financial operations and minimizes errors.