Supplier Remittances|

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Breakdown of Invoice Payments

A supplier remittance advice is a document which provides a breakdown of the invoices included with a payment. It is sent from a customer to a supplier letting the supplier know they have paid their invoice. In it's simplest form it shows the invoice number and payment amount paid or enclosed.

In addition to the supplier remittance document, the system has a supplier invoice receipt / acknowledgement feature. This feature enables the initiator to notify the supplier about invoice documents received for processing.

Match Invoices with Payments

The main purpose of a supplier remittance advice is to help suppliers match invoices with payments. The Remittance advice includes the supplier invoice number, along with the payment amount, date and method of payment used by the customer.

Electronic Remittances in ACOS

Remittance advices from ACOS is submitted via e-mail to the supplier, notifying the supplier about the details for the payment.

In the past, some businesses however created invoices with a removable portion (tear-off section) that could have been returned by the customer along with the payment to the supplier.

ACOS Procurement and Supplier Management

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