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By: Samna K A

3-Way Matching Purchase Reception and Bills in Odoo ERP Software

Functional Odoo 16 Odoo Enterprises

Odoo 16 ERP Software provides the customers with a worthful feature of 3-Way Matching Purchase Reception and Bill to make sure of the payment procedures. The 3-Way Matching Purchase Reception and Bills is an important feature in the Purchase module that helps the companies to ensure whether the invoices are paid when their products are delivered or not. The vendor bills make sure that the delivery was made for sure. This feature of the purchase module ensures that the information connects to each other. This feature helps the customers from bringing out fraudulent invoices and thereby reduce the chance of issues occurring. The feature helps to save money and valuable time. They can easily bring out fraud and give access to AP staff to focus on higher projects. It can also regulate organizations to keep discounts for timely payments and reduce late fees related to missing payments.

Three-way matching purchase reception is a payment confirmation method that compares the information related to a particular purchase. On completing the verification process, the payment will be dispatched. This feature requires mainly information about three pieces of documentation to go with. There are Purchase Orders that permit a purchase to happen. It includes the various types, amounts, and costs of the particular product. Delivery Bill, which ensures that the delivery was made. And finally, the supplier invoice lists the amount the buyer is in debt to the supplier.

3-Way Matching Purchase Reception and Bills help companies in various ways. They provide the capacity to activate the payment procedures. That is, in many companies, receipt of the bill gives the payment process and 3-way matching in activation. Then secondly, this feature helps to bring the fraud out of sight. That is, here, the feature acts as a kind of checks and balances for ensuring that the bill is legitimate. Then using this feature, companies can save money by reducing overpayment. It improves business relations where a trusted alliance is created. This feature also requires an internal and external examination as well.

For the worthy use of this feature, it should then be considered as a policy. It is only applicable to purchase orders over a particular dollar amount. This is useful support as unrestrained high-value purchases have the capacity to create great financial harm. Another method to increase the efficiency of this feature is by sanctioning AP staff to pay the bill within a particular percent of the purchase order quantity. This will help to solve the small inconsistencies by imposing a small charge. With the help of good technological support, a company can regulate the whole three-way matching step very efficiently, where the APs attain complete attention to the variations.

Based on the bill’s correctness, vendors can be given ratings. Those who send the invoices perfectly can achieve higher ratings that direct to AP so that their future bills will not require periodical spot analysis.

The 3-Way Matching Purchase Receptions and Bills is a feature in Purchase Module which helps you to pay the vendor bills for the product alone that is delivered to the customer’s address. In the purchase order, you may get the vendor bills from the vendor before getting the ordered item. On this occasion, you can make use of this feature 3-Way Matching Purchase Receptions and Bills of Purchase Module in Odoo 16. This decides whether we have to pay the vendor bills or not. This feature helps you to compare the details that are provided in the purchase order, vendor bill, and receipt. Moreover, it ensures that you don't pay unnecessary vendor bills or, in other terms, protects you from fake vendor bills.

For the feature to get activated, firstly, select the Settings option from the Configuration Menu in the Purchase Module.

3-way-matching-purchase-reception-and-bills-in-odoo-erp-software-1-cybrosys

Then you can select the 3 Way Matching Purchase Receptions and Bills option under the Invoicing tab provided in the Purchase Module, as shown below.

3-way-matching-purchase-reception-and-bills-in-odoo-erp-software-2-cybrosys

Here the option that we need will be available under the Invoice tab, where you should make sure that Bill Control should be Received Quantities. You have the option to assign the control policy from the Settings menu, or otherwise, you can go to the Product Details window of the product which you have to order.

Now after initiating the 3 Way Matching Purchase Receptions and Bills option and choosing the control policy, you can make a new purchase order using the products that have received quantities in the control policy. The vendor bills of this particular purchase order will showcase the details on whether we have to pay the bill or not. One of the three practicable default values will be provided by Odoo in the vendor bill. They are:

* Yes: this value means that the products got delivered, and the bill should be paid.

* No: this value means that the products are not delivered, and you don't have to pay the bills.

* Exception: This value means that there is a distinction between the amount of the product you ordered, billed, and then acquired.

Within the Odoo platform, these values are arranged in the vendor bill automatically. Now there are some steps for this to get worked out. When we are done with our confirmation of the Purchase Order, then you will get the products that you ordered by selecting the Receive Products option as shown below.

3-way-matching-purchase-reception-and-bills-in-odoo-erp-software-3-cybrosys

Now you can confirm the receipt and get the vendor bill for this particular purchase. The Create Bill option, as you can see in the image above, can be used to create a new vendor bill. In the Other Information tab, you can see Odoo instinctively showing whether you have to go for the payment process, or not as shown in the image below.

3-way-matching-purchase-reception-and-bills-in-odoo-erp-software-4-cybrosys

In the image above, it is very much clear that there is a Yes, which indicates that you received the product that you had ordered so that you are supposed to pay the bill. And this is how you will configure the 3-Way Matching Purchase Receptions and Bills using Odoo Purchase Module.


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