Which function in the purchasing module of an enterprise resource planning (ERP) system ensures payments are not issued for incorrect invoices?
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A. B. C. D.B.
The function in the purchasing module of an enterprise resource planning (ERP) system that ensures payments are not issued for incorrect invoices is the "three-way match."
The three-way match refers to a process that involves matching three key documents before issuing a payment. These three documents are the purchase order, the goods receipt note, and the invoice.
The purchase order is a document issued by the buyer to the supplier that specifies the goods or services to be purchased. The goods receipt note is a document issued by the buyer that confirms the receipt of the goods or services. The invoice is a document issued by the supplier that requests payment for the goods or services provided.
The three-way match process ensures that the invoice received matches the purchase order and the goods receipt note. If all three documents match, then the payment can be issued. If there are any discrepancies between the documents, the payment is put on hold, and the issue is resolved before payment is released.
This process helps prevent payment errors, including payments for incorrect invoices, duplicate payments, or payments for goods or services that were not received or were not received in full.
In summary, the correct answer to this question is B. The three-way match function in the purchasing module of an ERP system ensures payments are not issued for incorrect invoices.