Remittance Advice (BC365)

remittance advice options remittance advice is a document or notification that is sent along with a payment to provide information about that payment the document or notification can appear in different formats electronic remittance and email remittance electronic remittance the information the recipient views on their bank statement email remittance an optional email submitted to the vendor upon payment submission, indicating information about the payment the plugin makes it easy for you to be a good customer and effortlessly submit both electronic and email remittances for all of your payments electronic remittance by default, the plugin submits the highest level of electronic remittance information as possible, when possible different payment networks and methods have different capabilities for transferring information to the recipient's bank statement the default implementation for ach payments is to have ctx enabled for ach payments, resulting in the best opportunity for high quality data to be received by your vendors in payments you submit to make changes to your payment remittance, such as enabling or disabling ctx, please reach out to your bank representative details about what information is extracted from the erp for the purposes of remittance can be found below email remittance there are two methods of email remittance available to you the fispan remittance advice product ( all payment methods supported ) j p morgan's split remittance product ( ach only ) remittance advice overview the fispan remittance advice service automatically sends an email to the vendor’s designated email address(es) for every submitted payment this email will contain your company name and a detailed list of the paid bills, including the reference/invoice #, invoice date, amount, and discount used if any credits were applied, the credit's reference number and amount will also be displayed each remittance email can be sent to up to 5 email addresses by default, the system uses the vendor’s email address if you prefer to use a custom list, you can set payables email addresses on the custom tab of the vendor's profile in netsuite (or the payment methods page in sage intacct and business central) the email will be sent from fispan and feature your bank's branding as a user, you can customize several settings "reply to" email address configure an address that the recipient will see and use if they reply to the remittance advice receive copies choose an email address to receive copies of all sent remittance advice alternative company name you may request that we configure a different company name to appear in the email on a per bank account basis remittance emails are submitted shortly after the payment is successfully sent from your erp the subject line of the email will appear as "your customer {customer name} has initiated a payment " important enabling the group bills for payment function means that only one remittance email is sent for multiple bills grouped into a single payment for the same vendor if this feature is not enabled, each paid bill is treated as a unique payment with its own remittance email, which results in multiple payments and multiple emails configuring remittance advice to enable or manage the settings for remittance advice, follow these steps navigate to the app center log in to https //sys fispan live/ (or sandbox https //sandbox fispan cloud/ ) using your fispan credentials if not already there, navigate to the app center remittance advice, as well as any other available extra features, will be displayed in the lower discover more section enable remittance advice to begin enabling remittance advice, hover over the card and select learn more the learn more button will begin the short setup process note don't see remittance advice in the connected or discover more sections? please reach out to support to have this product made available to you configure remittance advice in order to complete the setup, we require a few details from you all emails come from the unmonitored inbox no reply\@fispan com if a vendor replies to a remittance email, their response will be delivered to the address you specified in the vendors can reply to field internal copies of all remittance advices will be sent to the emails noted for copies once enable remittance is selected, it can take up to 15 minutes for the changes to come into effect modify remittance advice settings you can view or change your current settings through the app center find the remittance advice card, select its drawer, and choose open settings if you need to disable the integration entirely, select disable the change may take up to 15 minutes to come into effect j p morgan split remittance this email remittance product leverages the bank's secure email service and includes detailed and rich information about the ach payments submitted only available for ach payments requires a jpm (h2h payments/paysource) implementation project there are fees associated with this solution important note split remittance emails are sent once the payment is released from host to host to enable this product, please reach out to your bank representative to use this feature, you must opt into the remittance advice product don't know what this means? please reach out to our support team to request more information setting up remittance in business central to use the remittance product, navigate to the payment methods page the payment methods page will now load on this page, hover over a vendor and select the eye icon to open the pop up if you had an email stored on the vendor record, the remittance will default to that address on this page, you can toggle off remittances for vendors you can also add more emails by selecting add email group you can add up to five emails per group and add a group name you can then change the default payment method to this new group when you now make a payment, this vendor will receive a remittance email if you would like to turn off remittance for a vendor or not send remittance to a vendor, you can leave this field empty or toggle it off remittance advice faq "what is remittance advice and how does this affect me?" with the rollout of the automated remittance advice feature in the plugin, you will no longer have to manually send vendors remittance details of payments made through the plugin once a vendor is setup in the plugin with the required information, such as a valid email address, the system will automatically compose and send an email to your vendor with the total amount paid, and the invoice(s), invoice date(s) and the invoice amount paid, giving your team back that time for other value add tasks "is there anything i need to do to utilize remittance advice?" please ensure that all vendors that you would like to send remittance advice to have a valid email address in their vendors information page for further information on how to update your vendor information, refer to the guide available here "when will the remittance advice be sent?" after this service has been enabled, it may take up to 24 hours for remittance advices to automatically be sent remittance advice will be sent after your payment has been successfully transmitted to fispan "how is the remittance advice sent and what information is included?" the remittance advice will be sent via an automated no reply email remittance advice will automatically be sent to all vendors that have a valid email address the information on the remittance advice will include your company name, invoice number, invoice date, and amount paid here is a preview of what the email will look like "what if i don’t want specific vendors to receive automated remittance advice?" vendors will only receive automated remittance advice if there is a valid email address listed please remove the vendors email address within intacct "can i receive a copy of the remittance advice email?" yes, a copy of the remittance advice email can be sent to the administrator whom installed the plugin "can i opt out of the remittance feature?" yes, if you'd like the feature turned off please let your bank representative know of the request