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The activities associated with reconciling purchase orders, receipts and supplier invoices and approving supplier invoice payment. Reconciliation typically includes verifying delivered volumes, price, application of penalties or discounts and where applicable verification of grade or quality.
Discrepancies should be resolved before the Approve Payment process is considered completed.
The actual disbursement of funds is a financial process. The Approve Payment process is an operational validation that the invoice conforms to agreed and/or actual deliveries and all delivery conditions are met.