What is invoice verification in SAP SRD-SRM-SI - SRM-Supplier Invoicing?

SAP Term: invoice verification

• Component: SRD-SRM-SI

• Component Name: SRM-Supplier Invoicing

• Description: An automated process that compares supplier invoices to purchase orders and goods and services receipts, and ensures that price, quantity, tax, and product information match, or are within set tolerances. Invoice verification also includes manual verification of invoices, for example, in cases where no reference is available.

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• Key Concepts: 
  Invoice verification is a process in SAP Supplier Relationship Management (SRM) that allows companies to check the accuracy of invoices received from suppliers. This process involves verifying the accuracy of the invoice data, such as the amount, quantity, and description of the goods or services provided. The invoice verification process also ensures that the invoice is compliant with any applicable contracts or agreements. 
  
  How to use it: 
  In SAP SRM, invoice verification is done by creating an invoice verification document. This document contains all the necessary information about the invoice, such as the supplier, date, and amount. Once this document is created, it can be sent to the supplier for review and approval. Once approved, the invoice can be processed and paid. 
  
  Tips & Tricks: 
  When creating an invoice verification document in SAP SRM, it is important to ensure that all relevant information is included. This includes any applicable contracts or agreements that may affect the accuracy of the invoice data. Additionally, it is important to ensure that all relevant parties are notified of any changes or updates to the invoice data. 
  
  Related Information: 
  For more information on invoice verification in SAP SRM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SRM/7.5/en-US/f9f8d3a2b6c14e8a9f3d7c2b3e7f9a1d.html