Structured Creditor References (RF)

For many decades now, Finnish companies have used creditor references based on a Finnish standard for the purpose of identifying invoices in domestic invoicing. The creditor reference allows companies to automate various financial administration processes.

The invoicer receives the data on a payment with a creditor reference from the bank as incoming reference payment data, and the invoicer’s accounts receivable ledger is automatically updated on the basis of the data. The system uses the creditor reference to reconcile the payment with an outstanding invoice in the ledger, and the invoice is acknowledged as paid. Creditor references can be based upon the customer number or more often the invoice number.

An example of an RF creditor reference could be RF36{Invoice.Numeric}1

Settings

String input choice:

• Invoice Number
• Customer Number

Choose whether the unique customer- or invoice input for the reference calculation is the invoice number or the customer numer.

Calculation approach:

• Global
• Domestic

Choose whether you want the traditional domestic calculation approach or the global calculation approach, where the reference is appended RF and other information to make it globally valid as a creditor reference.