What is a ';remittance advice'; and how does it fit in the functions of credit control?

also if you can explain it a bit in regards to banking and financeWhat is a ';remittance advice'; and how does it fit in the functions of credit control?
a document accompanying a receipt showing which invoices less credit notes are being paid. would not go to the bank just suppliers.What is a ';remittance advice'; and how does it fit in the functions of credit control?
Remittance advice as far as I know, is like an invoice, but it is telling you what payment THEY have received.





For example, you receive an invoice from say... a stationary company, you pay, then they send you a remittance advice.





This is so you have written evidence that they received your payment, so they can't deny recieving it and try to make you pay again.
a remittance advice is a the opposite of a receipt for payment you would get is you buy something.





if a customer pays you ';X'; amount of money, they sometimes give you a remittance advice which tells you what invoices they are paying. it makes it easier when matching payments to invoices that you send out.
A remittance advice is simply a notification of payment, often sent along with a cheque to show which invoices are being paid.





It is just as a courtesy to help accounts departments tie up the payment with any outstanding invoices. They're not mandatory and not all companies use them.
as above
Hi, remittance advice literally advises one of what has been remitted - ie what has been paid. So basically, its a reciept. Company's need to provide remittance advice to clients.
ditto - just indicates what to apply payment to -