Using Creditor Reference, a company can automatically match its remittance information to its A/R.
This means that the company's financial supply chain's automated processing will be increased.
When a customer pays the invoice, the company writes the Creditor Reference instead of the invoice number in the message section, or places a Creditor Reference field in its payment ledger.
The Creditor Reference is an alphanumeric string, up to 25 characters long, with the letters "RF" at the beginning.
After the letters are two check digits, which confirm that the reference will be entered correctly.