Assumed receipt, also known as assumed receipt invoicing, is a process where payment is made based on the assumption that goods have been received, typically when receiving documents are not immediately available. This contrasts with processes like three-way matching, which require explicit confirmation of receipt. The term “Assumed Receipt” directly describes this practice, while “Positive Payment” and “Negative Assurance” are not standard terms in accounts payable for this context.
The web source from Tipalti explains: “Assumed receipt invoicing allows payments to be processed based on the purchase order and invoice, assuming goods have been received, often used to expedite payments when receiving data is delayed.” This aligns with the definition of assumed receipt as the process described in the question.
Positive Payment (I)is not a recognized term in accounts payable for this process.
Negative Assurance (II)is a term used in auditing, not accounts payable.
Assumed Receipt (III)is the correct term, making Option C the only accurate choice.
The IOFM APS Certification Program covers “Payments,” including various payment processes and their terminology. While the specific term “assumed receipt” is not directly quoted in the provided sources, the curriculum’s emphasis on “peer-tested best practices” includes understanding alternative payment methods, supporting the use of “Assumed Receipt” as the standard term.
[References:, IOFM Accounts Payable Specialist (APS) Certification Program, covering Payments, Tipalti: “Assumed receipt invoicing allows payments to be processed based on the purchase order and invoice, assuming goods have been received”, ]
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