Dehniece Aleck V.

Mangawang
BS Accountancy

What is the relevance of have a 3-way match of - Purchase Order, Receiving Report and
Sales Invoice?
Before accepting a supplier's invoice for payment, a three-way match is the process of
checking the purchase order, the products receipt note, and the supplier's invoice. A three-
way match can help determine whether the invoice should be paid in full or in part. A three-
way match can help determine whether an invoice must be paid in part or in full.
https://tipalti.com/3-way-match/
What is the purpose of having a "blind copy" of receiving report?
The blind copy's aim was to make the receiving clerk count and examine inventory in order
to finish the receiving report. The receiving clerk would utilize a blind copy of the purchase
order to record the number of items have received and confirm delivery with the supplier.
https://sites.google.com/site/fallsemester2012site/accounting-information-system/
presentations/ais-expenditure-cycle
What is the difference between an Open Account Payable File as to Close Accounts
Payable File?
Closing eliminates finished transactions from the existing records, such as paid or voided
invoices. This allows the user to set the amount of data that displays on transaction reports
for the current cycle. On the other hand, open account payable file is a sale with an open
account is one in which the products are shipped and delivered before the payment is due.
Obviously, this choice benefits the importer the most in terms of cash flow and cost, but it
also poses the most risk to the exporter.