Explain how “match bill to receipt” works?

AI generated answer (using internal Slack threads):

The "Match Bill to Receipt" feature in NetSuite is used to link a vendor bill to an item receipt. This is typically used in a 3-way matching process where a Purchase Order (PO), Item Receipt, and Vendor Bill are all linked together to ensure that what was ordered is what was received and billed. Here's how it works: 1. A Purchase Order (PO) is created for a certain quantity of an item. 2. The item is received, and an Item Receipt is created for the received quantity. 3. A Vendor Bill is then created. In the bill, you can use the "Match Bill to Receipt" feature to link the bill to the Item Receipt. This ensures that the bill corresponds to what was actually received. Please note that this feature is typically used for inventory items. It may not be applicable to service items as per the conversations in the threads. Remember, a PO must always exist to link an Item Receipt with a Vendor Bill. The sequence is: PO -> Item Receipt -> Vendor Bill. The Item Receipt is a crucial part of this process as it can be used to generate GL accruals, which can simplify the end-of-month accrual process. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******