Remittance advices are just one of the many applications of transactional mail. Virtually all organisations need to make payments and for many a remittance advice is an essential part of the accounting process. We explore this topic and how bakergoodchild can help in providing an entirely automated remittance advice transactional mailing solution.
What is a remittance advice?
To explain what a remittance advice is let’s provide an online definition:
‘A letter sent by a customer to a supplier, to let them know that their invoice has been paid’ Source: Collins English Dictionary
A remittance advice is a type of transactional mail and is most typically used in the accounting industry. The remittance advice lets the supplier know that the invoice has now been paid, this could be through a number of means – direct debit, standing order, BACS, cheque or cash.
Often seen as a highly courteous accounting document a remittance advice can sometimes be a contractual stipulation.
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Integrated process with one supplier
We can manage the entire process from data collection, through printing, mail fulfilment and finally the mailing to clients. This is an automated process and will require no effort from customers once the data has been supplied to us. No other company ever needs to get involved, we can manage the entire process on behalf of customers. In this next section we detail the steps:
1) Managing the data for your remittance advice print run
Initially, we take the data from your Purchase Ledger cheque run. The data is verified and from this we can then proceed to start the print process.
2) Printing remittance advices
We can print your remittance advices complete with your organisational branding and have this ready as stationery for the remittance advice run. The printing stage includes printing the variable information per supplier onto a unique remittance advice for each payment. Variable data includes for example, a unique reference number, invoice(s) being paid, invoice date(s), invoice value(s), etc.
3) Mail fulfilment of campaign
We have detailed the steps of mail fulfilment at https://www.bakergoodchild.co.uk/whats-involved-in-direct-mail-fulfilment/. Read this article for detailed information about the various stages in fulfilling the remittance advice mailing.
4) Postage and distribution of remittance advices
Once the remittance advices have been fulfilled they will now be ready to be posted. Why pay more for your postage when you can save money with bakergoodchild? We have deals in place with many postal carriers to save postal costs, which are typically a large cost of mailing remittance advices. With our postcode sortation, we also obtain discounts from postal providers for the pre-sorting of mail. Simply call our postage team for further details.
Let bakergoodchild manage your remittance advices
Are you interested in buying an integrated remittance advice mailing service? Simply, call our mailing house experts on 0800 612 1972 who will be able to advise in all regards to remittance advice process management. If you prefer you can also email us via the contact form here.
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