ELECTRONIC DATA INTERCHANGE Definition

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ELECTRONIC DATA INTERCHANGE (EDI) is the use of communication between an entity and customers or suppliers to transact business electronically. Purchases, shipping, billing, cash receipts, and cash disbursements can be completed entirely by exchanging electronic messages.

Learn new Accounting Terms

POB is Public Oversight Board.

PAYMENT is the satisfaction of a debt or claim; primarily money paid to fulfill an obligation.

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