EDI


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EDI

Electronic Data Interchange

A strictly structured form of business-to-business communication. Electronic data interchange involves the transfer of formal documents, such as orders, invoices, and even checks. Companies provide EDI services to more than 80,000 clients, but the system receives significant competition from various services offered over the Internet.
References in periodicals archive ?
An acceptable level of confidence in the EDI system can be determined by answering the following questions.
The growth of EDI strongly encourages taxpayers and tax authorities, at a minimum, to agree: - that there are situations in which there may not be a purchase order, invoice, payment, acknowledgment or other form of traditional audit document; - to modify policies, regulations and statutes to address paperless processes; and - to analyze record retention requirements.
The most important thing when considering EDI is to find out if your customer base requires it," says Paris Inman, who launched Capital Paper Express, a Washington D.
The results of the survey proved to be extremely helpful in determining the level of interest our customers have in EDI.
Sears uses at least nine different EDI transactions, and a number of others are planned, yet most of its suppliers use just one or two transactions, mostly on a stand-alone basis.
In November 1994, the Federation of Tax Administrators (FTA), after discussions with various taxpayer groups, facilitated the formation of a task force of state tax administrators and taxpayer representatives to address the issues posed by the use of EDI technology and other similar business processes.
Debra Abbott, Director of State and Local Taxes for the Coca-Cola Company, indicated that her company has been involved with EDI for over five years.
The description of the Task Force's mission and objectives, however, includes a footnote defining EDI as encompassing "electronic recordkeeping and other paperless processes.
TrueCommerce is a Pittsburgh, PA-based EDI solutions provider founded in 1995.
It is imperative that state auditors perform audits of EDI transactions electronically and not require that paper documents be printed for their review.
State income tax record retention guidelines usually mimic federal guidelines, and no state has yet issued rules specifically for EDI records.