2079325 ISO 20022 Citi Mini Series and Reference Guide Part

ISO 20022: Citi Mini Series & Reference Guide  | 14 ... ... ... ... ... ... ... Remittance Information Background: Currently, remittance information in MT messages risks truncation because of character limitation, making invoice reconciliation very difficult. To address this, there is now a structured element dedicated specifically to remittance information in MX messages. Remittance Information is a dedicated element used both within the pacs and camt reporting messages, whereby this information can travel end-to-end using ISO 20022. The extended remittance information within the MX message contains several possible source elements to enter MT remittance information, including related remittance information and remittance information. Benefits: This capability would benefit all corporates . Adoption of expansive and rich structured data results in a wider data set compared to today’s MT message format, improving reconciliation and invoice management. Remittance information allows for granular data inclusion within a payment, with data such as invoice contract details, reference number and invoice itemized details, which can facilitate streamlined invoice reconciliation. The new standard replaces inconsistent/freeform remittance information and provides improved data quality and straight-through processing. Reference Document Information ... Invoicee ... Reference Document Amount ... Tax Remittance ... Creditor Reference Information ... Garnished Remittance ... Invoicer Structured ... Additional Remittance Information Source: CBPR+ User Handbook