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. A

    VIC Sole parental custody - advice

    Hi there, Im just looking for some advice, it’s pretty long, so I will try and keep it as short and detailed as possible. I was wondering what the likelyhood of being granted soul parental custody would be? My sons father hasn’t been involved in his life since the day he was born. We were...
  2. S

    QLD Advice needed. Employer has installed CCTV cameras with audio at workplace.

    I work in a Brisbane city business where my boss has installed 3 x CCTV cameras with audio. We know he using these cameras to listen in to conversations. My understanding is the audio recording is illegal (as is the video since he doesn’t have signs up). Am I right to assume this and what is...
  3. P

    NSW Advice on providing court orders to school.

    My little one was enrolled in school this year, and her mother failed to provide the school with a copy of the orders, nor did she nominate me as a parent not living with the child. the school informed me that they did not have the orders so I supplied them a copy. Court orders state I should...
  4. S

    NSW annexure to an affidavit advice

    Hi. I am having trouble understanding the requirements for the annexure to an affidavit. I am currently filling a probate application and I am not sure if the original will and death certificate need to be signed and if so by whom? Or just the copies of them that get stapled to the affidavit...
  5. P

    NSW Travel advice

    Would border force check person alert list(PAL) for departing non Australian citizens? When do someone end up on that list? Soon as they are charged with an offence or after the court trial? Can they stop someone not australian trying to flee if they are on the bail?
  6. J

    NSW Help with Used Car Issue?

    Hi all, I will try and make this short. I've purchased a 2nd hand car from a dealer and upon having an independent inspection there have been problems found. Now the dealer has agreed to fix these problems but further to that I have since found out that the exhaust has been modified and...
  7. U

    QLD Child Neglect/Family Law

    My son is 3 now and has absolutely no relationship with his bio dad even when he was a baby. His father would get "bored" and go out with his mates all night doing god knows what and never participated in caring for our son, he has serious anger issues which certain things he did gave my son...