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EDI 823: Lockbox

EDI 823 Definition

The EDI 823 Lockbox document is a critical component in the suite of electronic data interchange (EDI) transactions, designed to facilitate the electronic transmission of banking and payment information directly from a bank’s lockbox service to a company. A lockbox service is used by businesses to expedite the collection and processing of customer payments. The bank collects payments sent to a post office box and then sends the payment information electronically to the business, often using the EDI 823 format. This process enhances the speed and accuracy of payment processing and reconciliation.

What is EDI 823 Used for?

Businesses use the EDI 823 to receive detailed payment information from their bank’s lockbox service. This document allows companies to automate the reconciliation of customer payments with outstanding invoices, significantly reducing the manual effort required and improving the accuracy of their accounts receivable processes.

Key Elements of EDI 823

An EDI 823 document includes several key elements to accurately convey payment information:

Benefits of EDI 823

Implementing the EDI 823 document offers several advantages:

EDI 823 Document Example

Here’s a simplified example of what an EDI 823 might look like in raw data format:



N1*DE*Bank XYZ*1*ABA123456






Guide to EDI 823 Terms and Elements:

This example is designed to give a basic understanding of how an EDI 823 document might look, including the types of information it conveys. Remember, the actual implementation might vary based on specific business needs and partnerships.

Elevate Your Lockbox Transactions with Comparatio

Ready to transform your receivables management with EDI 823? Contact Comparatio today to discover how our EDI solutions can streamline your lockbox transaction processing, enhance cash flow management, and improve financial reconciliation accuracy.

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