Anyone using ANSI X12 820 CTX format for Electronic Payments and Remittance Advice processing (P04572T2)

John_Dickey

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Anyone using ANSI X12 820 CTX format for Electronic Payments and Remittance Advice processing (P04572T2)

Just curious to know if anyone is using the P04572T2 program (Accounts
Payable Payment Processing - CTX format) to electronically pay
suppliers. This format would allow you to send remittance advise
information electronically along with the payment. We have one supplier
(Grainger) that is asking us if we could do this kind of transmission.
Currently we pay via the ACH PPD format, and send the JDE remittance
advice via e-mail to the supplier. I can understand where suppliers
would be interested in electronic information that contains the payment
and remittance advice information, as it would be a lot easier to
automate their cash apply logic, so it would not surprise me to see more
suppliers asking about this. Though some may look to the EDI process to
try and do this as well, I am guessing. Just curious to know if anyone
is using this JDE program today and how well it has worked for them.
Thanks for your time and assistance.

John Dickey
Financial Systems Administrator
White-Rodgers, division of Emerson Electric
8100 West Florissant Ave.
P.O. Box 36922
St. Louis, MO 63136-9022
314-553-3067
[email protected]
 
Re: Anyone using ANSI X12 820 CTX format for Electronic Payments and Remittance Advice processing (P04572T2)

Hi John:

Sorry I cannot help with your issue, as I am in a similar position. Maybe you could be so kind as to share some of your experiences with me.

Our Treasury Dept. would like to reduce paper cheques. We looked at JDE Electronic Funds Transfer (A7.3 Cum 14) looks good, but no remittance advice e-mail facility. Our Bank will gladly do it for us, but it will cost about 20% more than paper process.

I looked into developing an e-mail remittance advice using our Lotus Notes tools, or buying off the shelf. Either way, paper is cheaper.

How can we build a business case to justify moving to EFT, when in the end it will cost more?

I would appreciate hearing from anyone who has experienced this. I keep thinking we have overlooked something. EFT seems to be the way to go, and it is not overly complicated, so why no pay back?

Thanks,

Peter Davis
Business Analyst, Information Systems
Newfoundland and Labrador Hydro
Canada
 
Re: Anyone using ANSI X12 820 CTX format for Electronic Payments and Remittance Advice processing (P04572T2)

We used in E1 8.11 with some minor modifications required by Vendor to include the Vendor invoice numbers and change the number of segments in the EFT CTX file etc. I don't about World or the costs involved for US Bank EFT charges compared to manual checks.
 
RE: Anyone using ANSI X12 820 CTX format for Electronic Payments and Remittance Advice processing (P04572T2)

Bhargava,

Did you do this for just one vendor or for several vendors? One
of my concerns studying this is that the ANSI X12 820 CTX appears to not
be as standardized as the regular PPD format, and that I may have to
develop a custom version for each vendor, or at least several different
versions and have to somehow tie the vendor to the program version to
use for that vendor. It sounds like you did modify the base JDE program
to get it to work for the vendor.

John Dickey
Financial Systems Administrator
White-Rodgers, division of Emerson Electric
8100 West Florissant Ave.
P.O. Box 36922
St. Louis, MO 63136-9022
314-553-3067
[email protected]
 
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