The Remittance Coalition is a group of organizations and individuals working together to promote greater use of electronic business-to-business (B2B) payments and electronic remittance data exchanges. The Coalition accomplishes this objective by addressing various problems and barriers that make it difficult for businesses to use electronic alternatives to paper checks and remittance advices. Additional information on the Remittance Coalition can be found on the Federal Reserve Bank Minneapolis website.
This Technical Report contains the most commonly used adjustment reason codes for adjusting a business-to-business payment amount and provides an overview of how to use these codes in the exchange and processing of remittance information.
This project will develop a Technical Report of a remittance glossary. Using the Remittance Coalition (RC) definition of remittance, as information that explains a payment, the RC has partnered with X9C to develop a glossary to provide greater standardization and improve communication in the purchase-to-pay business processes. This TR will be a glossary of terms that are used in remittance exchange to be a source of common language in the payment and reconciliation process, thus reducing misunderstandings and incorrect processing which results from miscommunication.
The Remittance Standards Inventory is intended to be a current, comprehensive inventory of relevant business-to-business (B2B) payment remittance standards. The intended audience of this payments remittance catalog includes B2B solution and service providers, and the corporations and organizations that must make use of these standards or implementations to facilitate the efficient reconciliation of their payments and remittance data. Standards bodies and other general interested parties are another target audience for this repository.