What is an EDI 185 Royalty Regulatory Report?
EDI 185 is an electronic document containing information about leased properties required for regulating royalties.
The transaction set can be used for the following purposes:
- To provide royalty regulatory data for mineral extraction
- To provide royalty regulatory data for petroleum products extraction
The data contents and format of EDI 185 Royalty Regulatory Report are used for the electronic interchange of information. It is divided into various segments and data elements.
Workflow for the Exchange of an EDI 185 Royalty Regulatory Report
EDI 185 falls under the category of X12G Government transaction sets. Different governmental and private organizations use the EDI 185 Royalty Regulatory Report transaction set to share royalty regulatory data. Important particulars are sent to the federal agencies as well as state agencies so that regulatory requirements can be met. The data can be also be interchanged for informational purposes among trading partners.
Stay EDI Compliant with EDIConnect
With a built-in EDI parser, validator, and transaction builder, EDIConnect can handle transaction sets in X12, EDIFACT, and HL7 formats. This helps businesses easily exchange EDI documents with their trading partners, allowing them to stay EDI compliant. Using the EDI solution, users can automate file uploads and downloads, create workflows, and transform files into the required format to streamline the process.