A company using Dynamics 365 Finance has determined they have been paying for products they did not receive. You need to recommend a solution to prevent this from happening in the future. What should

The correct answer is A. Implement Accounts payable for three-way matching.. Three-way matching in Accounts Payable compares three documents before allowing payment: the purchase order (what was ordered), the product receipt (what was actually received), and the vendor invoice (what the vendor is charging). If the invoice does not match both the PO and th

Describe Dynamics 365 Finance

Question

A company using Dynamics 365 Finance has determined they have been paying for products they did not receive. You need to recommend a solution to prevent this from happening in the future. What should you recommend?

Options

AImplement Accounts payable for three-way matching.
BActivate change management.
CImplement Accounts receivable for three-way matching.
DUse the Vendor portal.

How the community answered

(25 responses)

A
80% (20)
B
4% (1)
C
4% (1)
D
12% (3)

Explanation

Three-way matching in Accounts Payable compares three documents before allowing payment: the purchase order (what was ordered), the product receipt (what was actually received), and the vendor invoice (what the vendor is charging). If the invoice does not match both the PO and the product receipt, payment is blocked, directly preventing the company from paying for goods never received. Option (B), change management, controls modifications to purchase orders but does not prevent payment for unreceived goods. Option (C) is incorrect because Accounts Receivable handles money coming in from customers, not outgoing vendor payments. Option (D), the Vendor portal, gives vendors visibility into their orders and invoices but does not enforce payment controls.

Topics

#Accounts Payable#Three-way matching#Financial controls#Procurement

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