Review your entire accounts payable process with a structured audit designed to surface overpayments, missed early-payment discounts, and coding errors. An AP audit examines invoice approval workflows, three-way matching between purchase orders, receiving reports, and invoices, as well as vendor master file accuracy. Weaknesses in any of these areas create openings for duplicate payments, fraudulent invoices, and pricing discrepancies that quietly erode margins.
Businesses of every size benefit from periodic AP audits because payment errors tend to compound over time. A vendor who overbills by a small percentage on recurring invoices can cost a company far more over a fiscal year than a single large mistake. Common recoverable findings include payments made to inactive or duplicate vendor records, invoices processed without matching purchase orders, freight charges billed above contracted rates, and early-payment discount terms that were agreed upon but never applied in the ERP system.
Our accounts payable audit checklist walks you through each control point step by step: vendor master file hygiene, segregation of duties review, invoice matching verification, payment run reconciliation, and exception reporting. The tool flags high-risk transactions for manual review and generates a prioritized recovery list so your team can focus on the findings most likely to result in refunds or credits from vendors.