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3 Way Match

What is 3 Way Match?

The ‘3 way match’ is a term commonly used in accounting and procurement processes, especially in the context of accounts payable. It refers to a three-step process of matching three key documents before processing a payment to a supplier. 

‍NetSuite 3 way match is a feature that allows businesses to verify that purchase orders, delivery receipts, and supplier invoices all have the same information. ZoneCapture’s 3-way matching was developed based on real NetSuite user requests and uses an intuitive traffic-light interface, which makes it easy for users to see which transactions match perfectly, vary slightly, or do not match at all.

Related terms

Bill Capture
Bill capture, also known as invoice capture, refers to the process of extracting data from incoming bills, invoices, or purchase documents and converting it into a digital format that can be processed and managed electronically within an organization's accounting or enterprise resource planning (ERP) system.
Cash Conversion Cycle
The cash conversion cycle (CCC) measures the rate at which your business converts its investments and inventory into cash.
Cash Flow Coverage Ratio
A company’s cash flow coverage ratio (CFCR) clarifies its ability to pay its debts based on cash flow from operations.
Cash Flow Optimization
This strategy focuses on maximizing the inflow of cash while efficiently managing outflows to maintain a healthy liquidity position.
Cash Flow from Operations
Cash flow from operations measures the money a business generates from day-to-day activities, usually over a quarter or fiscal year.
Consolidated Invoicing
Consolidated invoicing, also known as centralized billing or grouped invoicing, is a billing process in which multiple transactions or charges incurred over a specified period are combined into a single invoice for payment.