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EDI Introduction - ACCT 404 Accounting Information Systems...

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Janice H. Fergusson, CPA Lecturer ACCT 404 Accounting Information Systems ACCT 404 Accounting Information Systems
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Introduction to Electronic Data Interchange (EDI) Introduction to Electronic Data Interchange (EDI)
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What is EDI “computer-to-computer interchange of strictly formatted messages that represent documents other than monetary instruments”¹ EFT = Electronic Funds Transfer (electronically transferring monetary instruments) ¹The National Institute of Standards and Technology
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What is EDI ANSI X12 EDIFACT EDI/XML
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Non-EDI Buying Company 1) Identify Need – purchase requisition 2) Research Vendors – vendor file 3) Select Vendor 4) Place Order – purchase order 7) Receive inventory (verify accuracy) 9) Receive Invoice (verify accuracy) 10) Prepare check and remittance advice 11) Mail check and remittance advice Selling Company 5) Receive purchase order -prepare sales order, check credit, and check inventory 6) Pick and ship inventory - shipping notification bill of lading 8) Prepare and send invoice 12) Receive payment - prepare deposit and update records
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