Remittance advices (REMADV)

Import and export REMADV remittance advices in 365 business Banking, with automatic matching and deductions in payment reconciliation.

Besides the printed or emailed remittance advice, 365 business Banking also processes remittance advices electronically in the EDI standard REMADV (UN/EDIFACT Remittance Advice). You import advices that your customers send you, and you export advices for your vendors from the payment journal. Like the PDF advice, both state which invoices a payment settles, but in a machine-readable form.

Prerequisite

Setup

Incoming payments

Import remittance advices

Payment reconciliation

Application in payment reconciliation

Outgoing payments

Export remittance advices

Import: from advice to preliminary entry

An imported REMADV advice is not posted immediately. For every invoice, credit memo or debit note on the advice, 365 business Banking creates a preliminary entry. This is the same preliminary entry that is used for application with open sales documents. See Application with open sales documents. The preliminary entry stays open until the matching bank transaction arrives and the payment reconciliation is posted. It is never deleted. If the payer shortens an invoice with a reason, this results in a deduction on application. The remaining amount is posted to a G/L account you set up per reason or as a default, and the invoice is still fully settled.

Application in payment reconciliation

When a bank transaction arrives in the payment reconciliation journal whose amount and payer match an open remittance advice of a customer, 365 business Banking applies all documents of the advice automatically, including any deductions. The Remittance Advice & Deductions FactBox shows which documents were found and which were not: Application in payment reconciliation.

camt.053/054: structured remittance data

If your bank delivers structured remittance data in a camt.053 or camt.054 statement (the RmtInf/Strd element per transaction), 365 business Banking automatically creates the same remittance advice from it as from a REMADV file. The advice is firmly linked to the bank transaction, and no file import is required. For the further processing (preliminary entries, application, deductions), it makes no difference whether an advice came from a REMADV file or from camt data.

Export: from the payment journal

For vendors and customers who expect electronic advices, you create a REMADV file per recipient from the payment journal, either for selected lines or for the whole journal. Deductions with a reason are included in the export. Transmission to an EDI system is left to partner solutions via integration events: Export remittance advices.