Supplier invoices are matched with which of the following?

Supplier invoices are matched with which of the following?

• A. Purchase order price and tax rate
• B. Purchase order price and payment terms
• C. Purchase order price and goods received quantity
• D. Goods received quantity and shipment dates

Answer: (C)

Matching supplier invoices is an essential process in financial accounting and inventory management, ensuring that payments made to suppliers correspond accurately to the services or goods received. The correct choice, which is matching the supplier invoices with the purchase order price and the goods received quantity, reflects the standard practices in accounts payable processing. When a supplier invoice is received, it is crucial to confirm that the amount billed matches the purchase order that was created when the items were initially ordered. This step ensures that the price on the invoice aligns with what was agreed upon in the purchase order, validating the financial implications of the order. Additionally, verifying the goods received quantity is vital because it confirms that the company received the correct amount of the product or service that was ordered. This two-fold verification process helps prevent overpayments or discrepancies, thus maintaining accurate financial records and inventory levels. The focus on ensuring that both the price and quantity match is essential for effective financial management, as any errors can lead to financial discrepancies and inventory issues. By verifying these critical details, organizations can maintain tighter control over their expenditures and inventory accuracy.

Matching supplier invoices is an essential process in financial accounting and inventory management, ensuring that payments made to suppliers correspond accurately to the services or goods received. The correct choice, which is matching the supplier invoices with the purchase order price and the goods received quantity, reflects the standard practices in accounts payable processing.

When a supplier invoice is received, it is crucial to confirm that the amount billed matches the purchase order that was created when the items were initially ordered. This step ensures that the price on the invoice aligns with what was agreed upon in the purchase order, validating the financial implications of the order. Additionally, verifying the goods received quantity is vital because it confirms that the company received the correct amount of the product or service that was ordered. This two-fold verification process helps prevent overpayments or discrepancies, thus maintaining accurate financial records and inventory levels.

The focus on ensuring that both the price and quantity match is essential for effective financial management, as any errors can lead to financial discrepancies and inventory issues. By verifying these critical details, organizations can maintain tighter control over their expenditures and inventory accuracy.