Before a supplier gets paid, three documents have to agree.
A purchase order says what was bought. A goods receipt says it arrived. An invoice says what is owed. This is an audit of how often that rule held across … real purchase-order items from a multinational coatings company's ERP, 2018.
- Purchase order
- Goods receipt
- Invoice
- Cleared for payment
- Vendor's invoice date
Walk one item through the controls
Each tab is a real item from the log. Lines connect the receipt, invoice and clearing that the matching rule paired.
What the controls found
Rates use only the items a control applies to. A 2-way item cannot fail a goods-receipt check, so it is not in that denominator.
| Control | Exceptions | Rate |
|---|
How long payment takes, once an item is payable
Payable means the later of receipt and invoice. Median days to clearing, per matched invoice.