Remittance Advice

Remittance advice is a document sent by a customer to notify a business of payment, often detailing the invoice number and amount paid. It helps businesses match incoming payments to the corresponding invoices in their accounts receivable system. Accurate remittance advice ensures that payments are processed quickly and applied to the right accounts. In AR optimization, automating remittance advice tracking reduces manual errors and speeds up payment application.

AI-driven systems can match remittance advice to invoices automatically, improving cash flow and reducing the time spent on manual payment allocation. This automation ensures that accounts are updated in real time, enhancing financial reporting accuracy.

Businesses that automate remittance advice processing experience smoother reconciliation and faster collections.