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Former Member

Payment advice

Hi All,

Please explain me the use of Payment advice in Accounts Receivable.

Thanks and Regards

Krishna

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4 Answers

  • Posted on Oct 14, 2011 at 03:45 AM

    Dear,

    Payment Advice is a Document which is sent to Vendor, that contain the details of payment made to Vendors such as:

    Cheue No/ RTGS No./NEFT No

    Amount

    Vendor Invoice Number

    Company Invoice Number

    Vendor Name etc.

    This is business requirement and can be developed in SAP system as per the format required by business.

    Hope it is clear to you now.

    Br,Vivek

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  • Posted on Oct 14, 2011 at 07:01 PM

    Hi,

    The purpose of payment advice in AR is to simplify the posting of inbound payments.

    With the pay.adv. in SAP when the payment is processed ,you only have to select the payment advice to clear out the customer account.

    With out the Pay.adv you would have to manually select which invoices to clear for that payment.

    The largest benefit is achieved when a customer pays many invoices in a single payment.

    Kind regards

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    Former Member
    Posted on Apr 11, 2013 at 10:36 AM

    HI<

    is payment advices and remittance advices different or the same?

    regards

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  • Posted on Apr 11, 2013 at 11:01 AM

    Hi Reddy,

    Payment advice is details about the payment details to a particular vendor. for example Invoice #,Invoice date and amount for that particular vendor.

    regards

    Pulak

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    • Former Member

      Hi,

      There is no difference as such between Payment Advice and Remittance Advice, only the naming terminology. In SAP terminology they call Payment Advice only. Some of them call it as Remittance Advice.

      Remittance/ Payment Advice give the details to the Vendors about the Company's Address & Bank details, Vendor details with Address & Bank details to which the Payment is done and the Invoice, Purhcase Order details, etc.the Invoices paid with the F110 Payment. The Format of Payment Advice can be designed in the respective Forms assigned to the Payment Method based on Company's requirements. These Payment Advices will be auto generated with F110 run based on the Config. settings for Forms & Programs in FBZP.

      Regards