What is an EDI 256 Periodic Compensation Document?
EDI 256 is an electronic document containing information about periodic compensation. This X12 transaction set can be used for transmitting and reporting information related to compensation.
It is commonly used for the following purposes:
- To report compensation amounts
- To report compensation earned
- To report the paid compensation
- To report any adjustments and balances to the compensation
An EDI solution is required to map data to EDI 256 format, as well as to parse the EDI messages received and convert it into the required format.
Workflow for the Exchange of an EDI 256 Periodic Compensation Document
EDI 256 falls under the category of X12N Insurance transaction sets. The transaction set is used by various entities to exchange information related to periodic compensation. It is also used alongside other transaction sets to send or receive information related to compensation.
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 and stay EDI compliant. Using EDIConnect, users can automate file uploads and downloads, create workflows, and transform files into the required format to streamline the process.