Finance

Financial e-business models and services including credit card processing, financial remittance delivery, invoicing, and payments use X12 standards, implementation guides, and more. Several X12 transaction sets are used in the financial services industry to exchange data between entities known as trading partners.

Examples of EDI standard transaction sets used in the financial services industry are the Credit/Debit Adjustment (812), Payment Order/Remittance Advice (820), and Financial Return (827). Additionally, the X12 820 transaction set is embedded as an ACH Addenda Record. X12's Finance Subcommittee has created several reference models and technical reports that are available for reference in Glass.

Subcommittee: X12F

Available Resources

  • Design Rules & Guidelines
  • Control Standards
  • EDI Standard Transaction Sets
  • Implementation Guides
  • Reference Models
  • Best Practices
  • EDI Standard Table Data
  • EDI Standard XSDs

Design Rules & Guidelines

The Design Rules and Guidelines assist standards developers of X12-syntax-based messages achieve consistent and technically appropriate transaction sets that meet the needs of the user community.

Sample - Design Rules and Guidelines

Control Standards

Control Standards define all the basic syntax aspects of the X12 EDI Standard. Included are the Interchange, Application, Interconnect Mailbag, and Security Control Structures, as well as the Semantic Impact for implementation of EDI structures.

Sample - Interchange Control Structure

Transaction Sets

An X12 transaction set is a semantically meaningful unit of information exchanged between trading partners. A transaction set may consist of a transaction set header segment, security header segments, assurance header segments, one or more data segments and loop control segments in a specified order, one transaction security value segment for each assurance header present, one transaction security trailer segment for each security header segment present, and a transaction set trailer segment.

Sample - 820 Payment Order/Remittance Advice Transaction Set

Implementation Guides

An implementation guide is a technical report that addresses the use of one or more transaction sets for one specific business purpose in order to facilitate consistent transaction set implementation within an industry or sub-industry. Each implementation guide is specific to one version of the EDI Standard. For the finance industry, X12 has developed implementation guides primarily related to exchanging payment information in support of different business purposes, such as premium payments for insurance.

Sample - 008010X334 Payroll Deducted and Other Group Premium Payment for Insurance Products (820) Implementation Guide

Reference Models

Reference models describe related business processes, computer applications, or business data flows, and are intended to assist in system development. Examples include control structures and standards for handling acknowledgments, and how to create XML element names from X12 implementation guides.

Sample - Acknowledgment Reference Model

Best Practices

X12 published a best practices document for reassociation. Reassociation is the act of re-combining or matching the payment and the remittance information in a payment and remittance separate scenario, such that the payee has the remittance information in hand, and knows that the related payment has been made.

Sample - Best Practices - Reassociation

Table Data

Table data files are inert raw data intended to be imported into existing applications by software developers or implementors. It is not intended to replace Implementation Guides, X12 Technical Reports, or the X12 Standard, but may be useful in saving considerable time compared to manually building and maintaining protocol to work with EDI toolsets especially if you intend to handle several transaction sets and versions.

Sample - EDI Standard Table Data readme.txt

XSDs

X12 XSDs are mechanically generated from the same database as the implementation guides and EDI standard. Both the TR3 and EDI schemas are W3C-compliant XML Schema Definition (XSD) files. Using X12's auto-generated XSDs saves considerable time compared to manually building and maintaining XSD.

Sample - 008030 Payment Order/Remittance Advice (820) EDI Standard Transaction Set XSD Schema