A remittance email is not the same as money received
The customer says an invoice has been paid, but the money is not showing. Match the payment information to your bank records before closing the account.
Corporate Recovery Partners
01 / 06
The payment advice arrives before the money
A builder emails a remittance advice covering last month’s invoice. You tell the team the account is settled, but the bank balance has not changed. A supplier payment is due tomorrow.
Keep the invoice under review until you can match the money received. An advice describes a payment; your bank records show what has reached your account. The difference matters when you are deciding what the business can afford today.
Compare the advice with the invoice number, amount, payee and account details you supplied. Check whether it covers one invoice or several. Look for deductions and credits that explain a lower total.
Also check whether the payment is described as scheduled rather than completed. Do not treat either wording as proof that the funds are available.
Tell the customer you cannot yet match the receipt and ask for the payment date, amount and transaction reference. Avoid requesting an entire bank statement when a limited confirmation would answer the question.
A calm request such as “We cannot match this amount yet; could accounts confirm the transfer reference?” is more useful than accusing the customer of not paying.
business.gov.au identifies sales, income and bank records as part of business record keeping. Keep the remittance with your reconciliation note so the next person can see both the customer’s explanation and what you checked.
In your cash working sheet, separate expected money from the balance actually available. If the payment later arrives, replace the expectation with the receipt rather than adding another inflow.
If the customer says it used different bank details, verify the instructions through an established contact and raise any suspected diversion with the bank promptly.
Close the invoice only when the difference is explained
Once the payment is located, record the allocation and confirm any balance still outstanding. If it cannot be traced, agree who is following up and when you will check again.
For an account that remains unpaid, bring the invoice, remittance and follow-up history to the discussion with CRP. That is a clearer starting point than a note saying only “customer says paid”.
