SheetCompareVendor Invoice Reconciliation Template
Three-way match of PO against invoice, with an automatic variance and a Match/Review status formula so price and quantity gaps surface.
What's in it
- PO Amount — The amount on the purchase order.
- Invoice Amount — The amount the vendor invoiced.
- Variance — Auto-calculated (PO minus Invoice).
- Match Status — Formula returns Match when the variance is effectively zero, otherwise Review.
Before you pay a vendor, the invoice should match the purchase order (and ideally the goods receipt). This template does the price side of that three-way match: it puts the PO amount next to the invoice amount, computes the variance, and a formula automatically flags each row as Match or Review so accounts payable can approve the clean ones and investigate the rest.
The Match Status uses a tolerance so rounding doesn't create false flags. Paste in your open invoices and the variance and status columns fill themselves in.
How to use it
- 1
Enter the PO and invoice
One row per invoice: PO number, invoice number, vendor, the PO amount, and the invoice amount.
- 2
Read the auto match
The Variance and Match Status columns calculate automatically. Match means the amounts agree within a cent; Review means they don't.
- 3
Investigate the reviews
For each Review row, check for a price change, a short shipment, or a quantity error before approving payment, and note it.
Frequently asked questions
What is a three-way match?▾
Matching the purchase order, the vendor invoice, and the goods receipt before paying. This template covers the PO-to-invoice amount match; add a received-amount column to extend it.
How is the Match/Review status decided?▾
A formula checks whether the variance is within one cent. Within tolerance it returns Match; otherwise Review. You can widen the tolerance in the formula.
Can I compare this month's open invoices against last month's?▾
Yes, keep a copy per period and diff them in SheetCompare to see which invoices were added, cleared, or changed.
Related templates
General Ledger Reconciliation Template
Reconcile each GL account against its subledger, with an automatic difference column, a reconciled flag, and a reviewer column for sign-off.
Bank Reconciliation Template
Match your ledger against the bank statement, with a live difference column and totals that flag anything out of balance.
Credit Card Reconciliation Template
Match each statement charge against what you recorded, with a variance column that flags mismatches and category tracking.