A 2-way match is a verification process used in financial systems where two documents, the purchase order and the vendor's invoice, are compared. The quantities and amounts on the vendor's invoice are cross-checked against the corresponding information on the purchase order. If they align and match, the invoice is considered valid for payment.

This simplified matching method is commonly employed when there is no need to verify the receipt of goods or services through a receiving report. The 2-way match helps ensure accuracy in invoice processing and assists in preventing errors or discrepancies in financial transactions.

A 3-way match is a verification process used in financial systems to ensure accuracy in invoice processing. It involves comparing three documents: the purchase order, the receiving report (goods receipt), and the vendor's invoice. The purchase order details the goods or services ordered, the receiving report confirms the receipt of those goods or services, and the vendor's invoice provides the billing information.

The quantities and amounts on the receiving report and the vendor's invoice are compared against the purchase order. If all three documents align and match, the invoice is considered valid for payment. The 3-way match helps prevent errors, fraud, and discrepancies in financial transactions.