Two-way matching and three-way matching are two types of invoice matching (also known as PO matching) used by finance departments to ensure proper oversight of a company’s transactions. So what exactly is invoice matching, and why is it so important to a business?
NetSuite has developed the Workflow Manager that enables you to build workflows for a variety of business processes, including invoice approval. Custom workflows can include unique items like steps for approval and purchase order management. A NetSuite invoice approval flow allows a business to quickly authorize expenses and keep things moving.
An early payment discount is a form of trade finance and a means for companies to obtain a discount on vendor invoices when paying early. A business pays less than the full amount due while the supplier receives payment earlier than standard payment terms. It benefits both accounts receivable and accounts payable and helps add to your bottom line.