Understanding the Finnish Reference Number

In Finland, companies use reference numbers to identify the invoices that are sent to customers. The customers then include the reference numbers on their payments, which enables the payments to be transferred to the invoicing company's bank account that is reserved for payments with a reference number.

Invoicing companies can formulate their own reference numbers. The reference number must include one or more of these numbers:

• Company number

• Invoice number

• Customer number

You do not need to include all three numbers, but you must include at least one of these numbers in the reference number. Oracle recommends that you use the invoice number.

Note: For periodically recurring payments, such as rents, the item number should not form part of the reference number.

A short reference number reduces the risk of entry errors. However, a reference number should not be shorter than 4 digits (3 digits plus the check digit). The maximum length for a reference number is 20 digits (19 digits plus the check digit).