Overview
The EDI 820 transaction is used to send payment details and remittance information from a buyer to a seller or financial institution. It helps eliminate paper checks, reduces processing time, and improves cash flow accuracy.
Key Use Cases
- Electronic payments to suppliers
- Clear reconciliation of invoices (EDI 810)
- Faster payment processing and dispute reduction
Key Data Elements in EDI 820
- Invoice number(s)
- Payment amount and date
- Bank routing and account details
- Payer and payee identifiers
- Payment terms and currency
- Remittance reference information
Benefits of EDI 820
- Faster, more reliable payment processing
- Improved accuracy of financial transactions
- Stronger supplier relationships with on-time payments
- Reduced operational costs by eliminating paper checks
- Streamlined reconciliation and reporting processes
How TraceLink Supports EDI 820
- Automated validation and formatting of payment instructions
- Integration with internal ERP and financial systems
- Real-time monitoring and exception handling
- Support for multi-currency and global payment formats
- Audit trails to support compliance and financial reporting
Explore More EDI Capabilities
- Learn how EDI 810 simplifies invoice reconciliation: Accelerate the invoice-to-payment cycle by electronically transmitting invoices, reducing manual errors and payment delays.
- Explore how EDI 850 enhances order management: Automate procurement by sending purchase orders directly to suppliers, minimizing order discrepancies and improving fulfillment speed.
- Understand how EDI 997 ensures delivery confirmation: Improve reliability by receiving acknowledgments for every EDI message sent, confirming successful receipt and reducing communication gaps.
Need Help Implementing EDI 820?
Contact us to learn how TraceLink can streamline your payment operations through secure and scalable EDI integration.
Contact us to learn more about EDI Integration.
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