Walt - Lea is correct, never assume, it's can get costly to conduct EDI with the bank.
You should contact your bank and see if they will actually transmit the payment information to you in an 820 or 823 specifically for that vendor. Another option is you can ask your vendor to send you a Remittance Advice-only (non EFT) copy of the 820. So your vendor would send an EFT 820 to the bank (bundled or not) and remittance advice-only 820 specifically to you. Michael Kotoyan PMP | EDI Analyst SAIC ________________________________ From: [email protected] [mailto:[email protected]] On Behalf Of Leah Halpin Sent: Thursday, December 11, 2008 8:06 AM To: w_cohen99; [email protected] Subject: Re: [EDI-L] Bundled remittance advice 820 First, I really want to know the secret to getting your vendor to pay you. Second, never assume. You'll want to contact the appropriate person (EDI/AP) at the company you're wanting to send you the 820 when they pay you and ask how they do it. 820 and ACH are not required to go hand in hand and can be totally separate events and systems. Banks charge to do this bundling and unbundling and translation, you'll find many companies with adequate EDI/IT departments aren't interested in this extra cost. Good Luck, Leah ________________________________ From: w_cohen99 <[email protected] <mailto:w_cohen99%40yahoo.com> > To: [email protected] <mailto:EDI-L%40yahoogroups.com> Sent: Thursday, December 11, 2008 10:38:11 AM Subject: [EDI-L] Bundled remittance advice 820 We typcally send out a bundled remittance advice (820) to our bank and they in turn send out payment to the sellers/vendor bank. I assume the sellers/vendor bank then sends another un-bundled 820 to the original seller/vendor to let them know funds have been deposited. We now have an opportunity to get monies in this same fashion from a vendor. Can I assume the vendor sends the bundled transaction to their bank, the bank turns it around into ACH to our bank and we in turn get the information from the bank once they've credited funds? Their bank needs the bundled 820 - we just need an 820 to tell us the funds have been paid. Does this sound right? I just need to know/verify who gets an 820 transaction (bundled or not) in all of this. Thanks, Walt [Non-text portions of this message have been removed] [Non-text portions of this message have been removed] ------------------------------------ ... Please use the following Message Identifiers as your subject prefix: <SALES>, <JOBS>, <LIST>, <TECH>, <MISC>, <EVENT>, <OFF-TOPIC> Job postings are welcome, but for job postings or requests for work: <JOBS> IS REQUIRED in the subject line as a prefix.Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/EDI-L/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/EDI-L/join (Yahoo! ID required) <*> To change settings via email: mailto:[email protected] mailto:[email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
