What Is Remittance Advice?

A remittance notice is sent to the customer along with a sales invoice. The voucher is sent back to the sales unit by the customer upon payment.

Remittance advice

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A remittance notice is sent to the customer along with a sales invoice. The voucher is sent back to the sales unit by the customer upon payment.

This voucher indicates the customer's name, sales invoice number, bank account number of the sales unit and the amount. If the customer does not return the remittance notice together with the payment, the person receiving the mail should generally compile a remittance notice when opening the mail. The use of remittance notices allows cash to be immediately deposited into the bank, which can improve the control of asset custody.

Advice of Remittance: The receiving bank issues a written notice of withdrawal to the payee after receiving the instruction from the remittance bank to authorize the payment. The beneficiary will collect the remittance from the remittance bank within a certain period of time with the notice and appropriate supporting documents.