Streamline your procurement process with precise invoice tracking and price verification.
Effective cost management hinges on the accuracy of every supplier invoice. Discrepancies, however minor, can erode profitability and disrupt budgets. The MuleBuy Spreadsheet
Core Tools for Audit Control
The MuleBuy Spreadsheet equips your team with two essential systems:
- Integrated Invoice Tracking:
- Dynamic Price Comparison Dashboard:
Step-by-Step Invoice Verification Process
Step 1: Three-Way Matching
Use the spreadsheet to perform a systematic three-way match:
1. Purchase Order (PO):2. Goods Received Note (GRN):3. Supplier Invoice:
Step 2: Historical Price Analysis
Leverage the price comparison tool to audit cost accuracy over time. Input current invoice data and compare it against:
- Previous invoices- QuotesThis analysis flags unexpected price increases and strengthens your negotiation position.
Step 3: Discrepancy Logging & Resolution
When a mismatch is found, log it directly within the spreadsheet's tracking module. Tag the invoice status as "Under Query", note the specific issue (e.g., "Unit price 5% above PO"), and assign a team member for follow-up. This creates a transparent record for resolving disputes with suppliers.
Key Benefits of Systematic Auditing
Cost Recovery & Prevention
Identify overcharges, duplicate billing, and unused fees to recover costs and prevent future leakage.
Supplier Performance Insight
Audit data reveals which suppliers consistently bill accurately, informing future sourcing decisions.
Process Efficiency
Reduce manual checking time with automated alerts and a single source of truth for all financial data.