EDI 849: Response to Product Transfer Account Adjustment
EDI 849 Definition
The EDI 849 Response to Product Transfer Account Adjustment document is utilized within the electronic data interchange (EDI) framework to communicate the acceptance, rejection, or modification of a previously sent EDI 844 Product Transfer Account Adjustment document. This transaction allows businesses to formally respond to adjustments related to product transfers, such as billing discrepancies, returns, or any other adjustments, ensuring accurate reconciliation of accounts and inventory.
What is EDI 849 Used for?
Businesses use the EDI 849 to manage and communicate their responses to adjustments related to product transfers. This document allows companies to systematically address and rectify issues that arise from the transfer of goods, enhancing operational efficiency and financial integrity by ensuring that both parties agree on the final terms of the adjustment.
Key Elements of EDI 849
An EDI 849 document typically includes key elements to convey the response to an account adjustment effectively:
- Transaction Set Header and Trailer: Marks the beginning and end of the EDI 849 document, encapsulating the response details.
- Response Information: Details the response to the adjustment, indicating whether the adjustment has been accepted, rejected, or requires modification.
- Adjustment Details: Information on the type of adjustment being responded to, including reference numbers, adjustment amounts, and reasons for any modifications or rejections.
- Product Identification: Details about the products involved in the adjustment, including item numbers, descriptions, and quantities.
- Financial Information: Specific financial details related to the response, including any revised adjustment amounts or related financial impacts.
Benefits of EDI 849
Implementing the EDI 849 document offers several advantages:
- Accuracy: Ensures precise communication of responses to adjustments, reducing errors in financial reconciliation.
- Efficiency: Streamlines the process of managing product transfer discrepancies, saving time and resources.
- Transparency: Provides clear documentation of responses for both parties, improving trust and collaboration.
- Financial Integrity: Helps maintain accurate financial records by systematically addressing and documenting responses to adjustments.
EDI 849 Document Example
Here’s a simplified example of what an EDI 849 might look like in raw data format:
ST*849*0001
BIA*AC*ADJ12345*20241130
N1*BT*Buyer Company*92*12345
N1*SE*Supplier Company*92*67890
IT1*1*100*EA*Widget A*PD*Product discrepancy response
AMT*TT*1500*USD
REF*IV*123456789
SE*7*0001
Guide to EDI 849 Terms and Elements:
- ST (Transaction Set Header): Initiates the EDI 849 document, identified by a unique control number.
- BIA (Beginning Segment for Account Adjustment): Indicates the start of the response to the account adjustment, including the adjustment identifier and date.
- N1 (Name): Identifies the parties involved in the response, such as the buyer (BT) and the supplier (SE), including identification numbers.
- IT1 (Baseline Item Data): Details the items involved in the response, including quantities, item descriptions, and reasons for the response.
- AMT (Monetary Amount): Specifies the monetary amount of the response, including the currency.
- REF (Reference Identification): Provides additional reference information, such as related invoice numbers.
- SE (Transaction Set Trailer): Concludes the EDI 849 document, ensuring completeness and accuracy.
This example is designed to give a basic understanding of how an EDI 849 document might look, including the types of information it conveys. Remember, the actual implementation might vary based on specific business needs and partnerships.
Optimize Your Response to Product Transfer Account Adjustments with Comparatio
Ready to streamline your financial adjustments and dispute resolution with EDI 849? Contact Comparatio today to discover how our EDI solutions can enhance the efficiency of responding to product transfer account adjustments, improve financial accuracy, and support smoother vendor-relations management.
