Electronic Remittance Advices, remittance advices, Ledger Accounting Software

Electronic Remittance Advice

Celtrino's electronic Remittance Advice service validates your debtors' ledgers by enabling you to electronically capture and process buyer remittance advices resulting in reduced reconciliation and reporting costs.

As is often the case a remittance advice will cover multiple invoice payments and can be presented in a format that prevents automated processing and reconciliation of the debtor's ledger. Buyers have no option but to incur the administrative cost to manually reconcile their debtor's ledger so as to identify which invoices have been paid and which remain outstanding.

Celtrino's ledger accounting software service eliminates the manual process and presents the remittance advice in a format suitable for automated processing. The Celtrino electronic Remittance Advice service also completes the reconciliation automatically by comparing to an electronic extract from the supplier's debtor's ledger.

Celtrino's electronic Remittance Advice service produces a report that accurately identifies which invoices have been paid and which remain outstanding. The Celtrino electronic Remittance Advice report will also report on the justification and reconciliation of buyer deducted settlement discounts.

Diagram: Demonstrates how Celtrino's Electronic Remittance Advice service validates the debtors' ledger which reduces reconciliation and reporting costs

Remittance Advice Diagram

Reduces reconciliation costs: Automated processing and elimination of human errors speeds up reconciliation from days to minutes
Cash flow management: Through faster identification of unpaid and part paid invoices and untraced payments
Eliminate paper: By automating the remittance advice process you dispense with the requirement for printing or storing remittance advices

Automatic reconciliation: Automatically reconciled against debtor's ledger and against bank statements
Reporting: Full suite of configurable on-demand reports
Ease of integration: Designed and engineered to seamlessly integrate with existing and future business processes
Celtrino Security: Highest grade security is maintained in all the layers of the stack, including the physical, network, application, and data levels. Physical security is achieved via secured access in Europe's leading data centre; network security is achieved with multiple layers of firewalls operating in fail over mode; application and data security is achieved via a range of access control and encryption tools
Systems access: The Celtrino platform provides a secure and role-based authentication process that enables each customer to specify access permissions for different users
No additional hardware: All Celtrino services are accessed via a range of secure internet options including web services and internet browsers so there is no requirement to purchase additional hardware