remittance advice

Definition

A document that describes payments that are being made. The person or company that is making the payment will sometimes include a remittance advice, which is like a receipt of the payment. A remittance advice is usually used by companies processing either a purchase or a filed claim. This term is frequently used in the United Kingdom.

Use remittance advice in a sentence

Along with receiving payments, many company's send remittance advice that shows what invoice is being paid.

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