A Guide to Cross-Verifying Transactions for Fair and Accurate Billing
The Critical Need for Cross-Verification
In freight and logistics management, discrepancies between payment records and freight logs are a common source of financial leakage and billing disputes. The CNFANS Spreadsheet
Key Data Points for Comparison
Effective discrepancy detection hinges on aligning these core data fields between your Payment Register and Freight Log:
- Shipment/Reference ID:
- Carrier/Vendor Name:
- Date of Service:
- Freight Details:
- Origin and Destination:
- Charged Amount (Payment Log)Quoted/Estimated Amount (Freight Log):
- Accessorial Charges:
- Carrier/Vendor Name:
Step-by-Step Discrepancy Detection Process
Step 1: Data Consolidation & Normalization
Import or enter data from your Payment Advices and Freight Bills into a unified CNFANS spreadsheet. Normalize the data
Step 2: Employing VLOOKUP or XLOOKUP for Matching
Use =XLOOKUP()=VLOOKUP()
Step 3: Flagging Discrepancies with Conditional Formatting
Implement Conditional Formatting
Step 4: Root Cause Analysis & Exception Coding
Categorize each discrepancy to identify systemic issues:
| Discrepancy Code | Possible Cause |
|---|---|
| URA | Unauthorized Rate Increase |
| MQC | Missed Quoted Discount |
| UAC | Unapproved Accessorial Charge |
| DATA | Input Error (wrong weight, destination) |
| DUPE | Potential Duplicate Payment |
Step 5: Resolution, Recovery, and Reporting
Use the flagged spreadsheet as an action list:
- Dispute Inaccurate Invoices:
- Update Internal Rates:
- Generate Audit Reports:
- Update Internal Rates:
Best Practices for Sustainable Accuracy
- Automate Where Possible:
- Audit Proactively:
- Maintain a Master Log:
- Collaborate with Procurement:
- Audit Proactively: