Remittance Advice - Document Skill

Extract data from remittance advice notifications — invoice numbers, payment amounts, dates, and references — for accounts receivable reconciliation.

The Remittance Advice skill extracts data from remittance advice notifications. A remittance advice is a letter sent by the client to the vendor to confirm that an invoice has been paid by the client. A remittance advice can also be accompanied by an invoice or a receipt.

The Remittance Advice skill is a production skill. It has been fully trained on a large document set and provides high accuracy of data identification and extraction. The skill is ready to be used in production and does not require further training on your specific documents. Accuracy and straight-through processing (STP) rates can be further optimized in production through continuous learning from human-in-the-loop feedback.

Countries and Languages

Countries	Languages
USA	English
Australia	English
New Zealand	English

Extracted Fields

Asterisk (*) indicates a required field or field group. Values cannot be empty.

Customer

Field	Description
Customer ID as Printed	The client/customer identifier in the document.
Name*	Information about the customer sending the remittance advice.
Address	Information about the customer sending the remittance advice.

Vendor

Field	Description
Vendor ID as Printed	The vendor’s identifier in the document.
Name	Information about the vendor receiving the remittance advice.
Address	Information about the vendor receiving the remittance advice.

Payment Information

If a receipt was received together with a remittance advice, these fields can also be extracted from the receipt.

Field	Description
Payment Number	The payment registration or invoice number.
Payment Date	The payment or invoice date.
Payment Amount*	The payment amount. Sometimes, the values of Payment Amount and Total are identical, seeing as the amount is only specified once. If there are two amounts in the document, the Compare Total and Payment Amount rule is used.
Currency	The currency of the payment.

Financial Summary

Field	Description
Total	The total amount paid.
Bank Key	The bank identifier. This field is optional and may have the name of the bank as its value if no bank identifier is found.

Line Items (Repeating Group)

Field	Description
Invoice Number*	The number of the invoice.
Invoice Date	The date on which the invoice was issued.
Paid Amount	The total invoice amount paid.
Invoice Amount	The total invoice amount. Usually, the values for Amount and Invoice Amount are identical, in which case the amount will only be specified once on the document. Sometimes, these values may differ. This may happen, for example, if the client is offered a discount. In this case, both amounts will be specified.
Discount	The discount applicable to the invoice amount.
Type	The invoice type. There are two types of invoices: 1. Debit – increases the total invoice amount 2. Credit – decreases the total invoice amount. This field is optional and may have one of the following values: - (negative) or + (positive), D (Debit) or C (Credit) if the remittance advice is in English.
Customer ID	The client/customer identifier.

Key Fields

• Customer/Name
• Vendor/Name
• Payment Number
• Total
• Payment Information/Currency

Validation Rules

Rule	Description
Check payments with discounts	Checks if the total amount paid (Line Items/Paid Amount) is equal to the total invoice amount (Line Items/Invoice Amount) minus the Discount.
Line Items: Invoice Number is Required	Checks if each Line Item has an Invoice Number filled out.
Check or fill Total	If the total amount paid is not specified in the document, sets the value of Total to be the total invoice amount paid (Line Items/Paid Amount). If the total amount paid is specified, checks that it is equal to the total invoice amount paid (Line Items/Paid Amount). If the value of Line Items/Type is Credit, then the positive value of Line Items/PaidAmount is considered to be negative for that line item when calculating the total invoice amount paid.
Compare Total and Payment Amount	Checks that the total amount paid (Total) is equal to the payment amount (Payment Amount).
Normalize currency to 3-digits code	Normalizes the value of the Currency field to a three-digit currency code.