Almanac · 03 · Money · definition

Audit

Matching a freight bill to agreed, signed contractual agreements.

An invoice is a claim, not a cost. Audit is the match against the contract you already signed — not a vague sense of what it should have cost.

Settlement without that match is just paying whoever mailed you.

See also: Settlement · Single payable · Accruals

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The Almanac · Rob Balawender, editor