Orchard Supply Hardware 820 Payment Order (Remittance Advice) Transaction Notes
Orchard Supply Hardware 820 Payment Order (Remittance Advice) transaction set is used both as a Remittance Advice to communicate the details and amounts of invoices, credits and debits for goods and services and as a Payment Order to generate the electronic payment to your financial institution. This document specifies usage of Orchard Supply Hardware 820 Payment Order (Remittance Advice) transaction set.
Vendor may choose one of two options to receive the 820:
- Dollars and Data separately
- Dollars and Data together.
Remittance Advice (remittance only): Orchard transmits the Remittance Advice (data) to vendor company. You reconcile the data with your accounts receivable items.
Payment Order (payment only): Orchard transmits the Payment Order (dollars) to its bank. Orchard bank sends the payment instruction to vendor bank through the ACH. Vendor bank credits the payment to vendor account. Vendor bank notifies/reports the payment to vendor.
ST Segment: The transaction set identifier (ST01) used by the translation routines of the interchange partners to select the appropriate transaction set definition (e.g., 810 selects the Invoice Transaction Set).
- BPR02 specifies the payment amount.
- When using this transaction set to initiate a payment, all or some of BPR06 through BPR16 may be required, depending on the conventions of the specific financial channel being used.
- BPR06 and BPR07 relate to the originating depository financial institution (ODFI).
- BPR08 is a code identifying the type of bank account or other financial asset.
- BPR09 is the account of the company originating the payment. This account may be debited or credited depending on the type of payment order.
- BPR12 and BPR13 relate to the receiving depository financial institution (RDFI).
- BPR14 is a code identifying the type of bank account or other financial asset.
- BPR15 is the account number of the receiving company to be debited or credited with the payment order.
- BPR16 is the date the originating company intends for the transaction to be settled (i.e., Payment Effective Date).
- BPR17 is a code identifying the business reason for this payment.
- BPR18, BPR19, BPR20 and BPR21, if used, identify a third bank identification number and account to be used for return items only.
- BPR20 is a code identifying the type of bank account or other financial asset.
N1 Segment: . This segment, used alone, provides the most efficient method of providing organizational identification. To obtain this efficiency the “ID Code” (N104) must provide a key to the table maintained by the transaction processing party.
ENT Segment: This segment allows for the grouping of data by entity/entities at or within a master/masters. A master (e.g., an organization) can be comprised of numerous subgroups (e.g., entities). This master may send grouped data to another master (e.g., an organization) which is comprised of one or more entities.
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