EDI 823 - Lockbox

EDIFACT

The X12 EDI 823 is typically the initial EDI document that starts the order fulfillment process. It falls under the category of the X12F Finance set. This transaction set enables the successful transmission of the lockbox information along with the balance information from a particular bank or other lockbox service provider.

EDI Documents

Benefits of using the X12 EDI 823

Benefits of the X12 EDI 823 are bi-directional for both users and recipients and can include but are not limited to the following benefits:

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Payment information can be processed automatically without manual intervention
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Import Processing can be handled automatically on a scheduled basis
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Payment Reconciliation can be auto-scheduled
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Reduction of errors and better reliability and predictability overall
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Reduced or eliminate manual entry of data

The key data elements included in a X12 EDI 823:

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Name, address, geographic location, reference ID’s
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Item identifiers including deposits, quantity, and monetary amounts
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Service promotion, allowance or charge information
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Tax information

Common issues regarding X12 EDI 823

Problems with payment confirmations

Have you had issues with your financial institution in confirming real legal payments from your customers?

Payment reconciliation

Are you frequently dealing with price discrepancies on your orders? Spending too much time resolving these discrepancies that it’s impacting your business?

Import processing

Is it a hassle to add/update shipping addresses in your system?

Automate X12 EDI 823 Lockbox with Full-Service EDI from SPS Commerce

Managing ongoing EDI tasks can be complicated and time-consuming. A full-service provider, like SPS Commerce, has an knowledgeable team that handles ongoing management of your EDI solution. The SPS team actively manages 9,000 changes from retailers each year.

We work directly with your trading partners to manage connectivity, setup, requirements, updates and support efforts. We also assume ownership of understanding your trading partner requirements and making map changes.

SPS Fulfillment proactively monitors and optimizes your solution to prevent errors and minimize data entry. Interested in learning more about our EDI solution?

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