Invoice Matching
Definition
The control of comparing a supplier invoice against the related purchase order and goods receipt before approving payment, so a business pays only for what it ordered and received at the agreed price.
Related Terms in Invoicing & Sales
Payment Reconciliation
Matching payments received or made against the corresponding invoices and bank transactions, so the records of what is owed and owing stay accurate and discrepancies are caught quickly.
Deposit Invoice
An invoice requesting an upfront partial payment before goods or services are delivered. The deposit is later offset against the final invoice for the balance.
Consolidated Invoice
A single invoice combining multiple orders, deliveries or periods for one customer, reducing paperwork and simplifying reconciliation for both parties.
Billing Cycle
The recurring interval over which a business invoices a customer — for example monthly or quarterly. A consistent billing cycle makes revenue and cash flow more predictable.
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