2 min read
Definition
Remittance advice is a document (increasingly an email or portal note) accompanying a payment, listing the invoice numbers and amounts the payment covers.
In plain terms
Without it, a supplier receiving a lump BACS payment has to guess which invoices you meant to clear. Sending it prevents your account being wrongly flagged overdue.
Why it matters for your company
On the receiving side, chasing remittances speeds your bank reconciliation and stops good customers appearing in arrears. It underpins tidy credit control.
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