Adding Remittance Advice to an Order

What is Remittance Advice?

Remittance advice is a document provided by a customer to a supplier to confirm that an invoice has been paid. It details essential transaction information like the amount and date of payment, and the invoice number. The document aids in account reconciliation and accurate financial record-keeping for suppliers by helping them match payments to outstanding invoices. It is especially useful in situations where one payment settles multiple invoices, facilitating clearer financial tracking for both parties.

Why Track Remittance in Koi?

Tracking remittance advice on an e-commerce platform is essential for both B2C and B2B transactions. It simplifies account reconciliation, aids in cash flow management, and improves customer relationships (so you don't ask for payment from a customer who has already has a payment on the way).

How to track Remittance in Koi?

You can add a remittance advice in Koi by going to the "Actions" menu on any unpaid order and clicking "Mark as Remittance Received."

You can also indicate that you've received remittance by using the contextual banners at the top of the orders page. These banners aim to suggest the next most logical action you might take. A remittance banner will appear when an order is unpaid and no remittance has been received previously.

What happens once I've added Remittance Received?

Once you've marked an order as "Remittance Received," a green banner will appear at the top of the order, displaying the details of when the order was marked as such.

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