Solutions
Remittance matching and cash application
The money and the remittance arrive apart. A CCD deposit shows on the bank feed with no invoice numbers; the remittance comes as a separate email, a portal page or an 820. A Versapay survey found 85 percent of finance teams still match the two by hand. STRYKE matches each payment to your Invoices and applies it in the books, with any short-pay held open rather than written off.
What arrives
Payments come in four shapes, and the remittance rarely travels with the money.
- An ACH on the bank feed with the payer's name and an amount, and an 80-character addenda at most
- A remittance PDF or a Paymode email listing invoices, discounts and deductions, a day before or after the deposit
- An EDI 820 carrying the same list, with an ADX line where a chargeback or a price difference is deducted
- A virtual card email with a card number to charge, and a separate remittance
- A paper check with a stub; checks are still 26 percent of B2B payments by one 2025 survey
What STRYKE does
Match the deposit to the remittance, the remittance to the Invoices, and name every difference.
- The deposit is paired with its remittance by payer, amount and date, even when they arrive days apart
- Each remittance line is matched to an open Invoice by number, PO number or amount
- An early-payment discount taken within terms is applied as a discount, not a short-pay
- A deduction with a reason, such as PRICE DIFF or a debit memo, is held open on the Invoice with the reason attached
- A payment for an Invoice already Paid, or one that is not yours, is flagged rather than applied
Where it lands
In the books, where cash is applied, and nowhere it should not be.
- A Receive Payment in QuickBooks Online or Desktop, Sage or Xero against the right Invoices, to Undeposited Funds or the bank account you use
- The short-paid balance left open on the Invoice with the deduction reason, for the person who will dispute or credit it
- Nothing written back to the ERP, which already shows the Invoice; the payment lives in the books
- The remittance document attached to the Payment
What goes back out
What the collections side needs, from the same record.
- A list of open deductions with the customer's reason, ready for the credit memo or the dispute
- A reminder on an Invoice still open after terms, if you want STRYKE to send it
- An aging that reflects today's deposits, not last week's
Questions shops ask
What happens with a short payment?
The paid portion is applied to the Invoice and the difference stays open with the customer's stated reason attached. Nothing is written off. The open deduction appears on a list for the person who will issue a credit or dispute it.
Does it read the bank feed?
It matches the deposit on your bank feed to the remittance that names the Invoices. When a remittance arrives without a deposit, or the other way round, STRYKE waits and pairs them when both are in.
Does the payment go back into the ERP?
No. In the shops STRYKE is built for, Invoices flow from the ERP to the books one way and cash is applied in the books. STRYKE follows that. The ERP keeps showing the Invoice; the books show it Paid.
