advice

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has been paid. If the customer is paying by cheque, the remittance advice often accompanies the cheque. The advice may consist of a literal letter (e.g., "To Whom it May Concern: Your shipment of the 10th inst was received in good order; accompanying is our remittance of $52.47 per invoice No 83046") or of a voucher attached to the side or top of the cheque.
Remittance advices are not mandatory, however they are seen as a courtesy because they help the accounts-receivable department to match invoices with payments. The remittance advice should therefore specify the invoice numbers for which payment is tendered.
In countries where cheques are still used, most companies' invoices are designed so that customers return a portion of the invoice, called a remittance advice, with their payment. In countries where wire transfer is the predominant payment method, invoices are commonly accompanied by standardised bank transfer order forms (like acceptgiros (in Dutch) (Netherlands) and Überweisungen (in German) (German)) which include a field into which the invoice or client number can be encoded, usually in a computer-readable way. The payer fills in his account details and hands the form to a clerk at, or mails it to, his bank, which will then transfer the money.
The employee who opens the incoming mail should initially compare the amount of cash received with the amount shown on the remittance advice. If the customer does not return a remittance advice, an employee prepares one. Like the cash register tape, the remittance advice serves as a record of cash initially received.
Modern systems will often scan a paper remittance advice into a computer system where data entry will be performed. Modern remittance advices can include dozens, or hundreds of invoice numbers, and other information.
Remittance advices can be very complicated, especially in specialized fields like medical insurance payments.

View More On Wikipedia.org
  1. G

    SA What constitutes financial advice?

    Hi all, I am a quantitative analyst with an interest in financial markets. Recently some friends have asked me to develop some quantitative risk models to assist them in their personal investing. I understand this is complex, but does this constitute financial advice? I understand the test...
  2. P

    NSW Is the estate legally liable to reimburse an executor for private legal advice

    The estate has been administered and all money is in trust waiting for distribution. One executor employed a solicitor privately to communicate with the other executors. The estate was sent invoices for the independent legal fees by this solicitor and a direction for these to be paid from estate...
  3. H

    NSW Car not in my possession at time of incident. Court ruled in Revenue NSW favour. Need to appeal. Advice?

    Back in March 2021 I was abducted and my car was stolen. While the car was stolen they racked up thousands of dollars worth of fines (Speeding (under 10kms, over 10kms, over 20kms and over 45kms), Red Light camera ), parking infringements (Non Stopping Zone, parked in bay longer than allowed)...
  4. J

    QLD Franchisor Telling Franchisee FWO is wrong, asking Franchisee not to follow FWO advice.

    Interesting question here. What happen if a Franchisor told a Franchisee that the FWO advice is wrong, even it is a tailor written advice, and they enforcing the Franchisee to follow Franchisor advice about the award and how the Franchisee should pay their employees? Put it the other way, what...
  5. anon5612

    QLD Advice for contesting an incorrect 10km over radar infringement

    Hi, I've received an infringement notice for 70km exactly in a 60km zone. I drive this road often, know the speed limit, and I remember the exact day in common. I was driving home from a doctors appointment and remember seeing the mobile radar van and looking at my speed and feeling relaxed that...
  6. M

    VIC Does anyone have advice on Child protection in Family law disputes?

    Hello I am looking for some information on child protection interventions in Victoria? I have recently had my 11 year old daughter taken away after she has mentioned feeling sucidal to a school friend. This has happened and has been a roll on custody dispute where my ex husband has been...
  7. D

    Advice Needed

    Hello everyone, First post here & was wondering if I could please get some advice on this matter, we need help! We asked our local member for some funding to either build a new Hall for our community or to renovate our existing Hall which has wrongfully been condemned by our local council...
  8. C

    VIC Negligent advice & conduct: Private firm, delivering .gov service

    I have a query regarding partially privatised government services - specifically, a Private Contractor of the state government, providing negligent advice and non-delivery of contracted services. I would appreciate the thoughts of qualified readers on how such an issue could realistically be...
  9. G

    NSW what advice do you have for us as tenants now that rental property has been sold?

    we have a fixed term lease until 10th October 2021. the new owner is keen we stay as tenants until July 2022. Settlement date for the sale of the property is July 2021. I anticipate we will sign a new lease in a few weeks (in July 2021) from 11th October 2021 until July 2022 and all will be...
  10. W

    VIC Legal advice to help shoplifter daughter (18)

    About a week ago my daughter (18 years old) was caught shoplifting at our local Coles supermarket. Because I only got her side of the story after the fact, when I came to pick her up, I can't be 100% sure of how accurate her account of events are, but this is what she told me: - She was...