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WS: 04: How to Set up and Process Electronic Funds Transfer (EFT) and Electronic Data Interchange (EDI) 820 Payments (Doc ID 1080226.1)

Last updated on FEBRUARY 13, 2018

Applies to:

JD Edwards World Accounts Payable - Version A7.3 cume 4 and later
Information in this document applies to any platform.

Purpose

Overview

You can use either electronic payment process (EFT or EDI) to automatically update your supplier's bank account with your payments. To do this you send a table to your bank in either of the supported World formats (CTX or PPD) that contains the information they need to pay your suppliers (for EFT processing) or you send the table to your trading partner (for EDI processing). You process electronic payments exactly as you do any other automatic payment. The system automatically creates the payment records at the time it creates the table for your bank and assigns them a document type of PT to identify them as electronic payments.

Both EFT and EDI deal with transferring money from one account to another in an electronic way. One of the central functions of the banking system, the Automatic Clearing House (ACH) helps in funds transfer between accounts and different banking institutions.  The different banks are connected through Automatic Clearing House. Electronic transfers, direct deposits, and debit card payments and electronic payments are normally processed through the Automatic Clearing House.

The following tasks comprise the process to generate and transmit electronic payments:

This document provides the detailed steps on how to set up and process Electronic Funds Transfer and Electronic Data Interchange (EDI) 820 Payments.

 

Scope

This document is appropriate for the accounts payable management team and staff.

Details

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In this Document
Purpose
 Overview
Scope
Details
 Determining the Payment Instrument to Use
 Setting up Payment Instrument Defaults (P0417)
 Understanding Pre-Note Code Options
 Updating Supplier Bank Account Information
 Updating Supplier Master Information (P01054)
 Updating the G/L Bank Account Information
 Setting up the DREAM Writer Version for P04572T1, P04572T2 or P47052T
 Setting up the Version of Create Payment Groups (P04570) for Electronic Processing
 Setting the Processing Options for Work with Payment Groups (P04257)
 Creating the Payment Group
 Reviewing and Writing the Payment Group
 Reviewing the Remittance Advice
 Reviewing the Physical File Member (optional)
 Updating the Payment Group
 EFT - Copying the Payment Workfile to Tape, Diskette (optional), or .XML file
 EDI - Updating the Payment Orders as Sent
 Deleting the Member from the Workfiles
 EDI - Purging the EDI Outbound Tables
References

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