Accredited ACH Professional (AAP) Practice Exam

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Prepare for the Accredited ACH Professional (AAP) Exam with tailored questions and study materials to enhance your understanding of ACH transactions and operations. Test your skills and readiness for this important certification!

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Which ANSI ASC X12 transaction set is specifically utilized for Payment Order/Remittance Advice?

ANSI ASC X12.820
ANSI ASC X12.835
ANSI ASC X12.521
ANSI ASC X12.823

The correct answer is: ANSI ASC X12.820

The ANSI ASC X12 transaction set specifically utilized for Payment Order/Remittance Advice is the ANSI ASC X12.820. This transaction set is designed to facilitate automated payment processing, allowing for an effective exchange of payment information between trading partners. It encompasses details necessary for processing payments, including the amounts, invoice references, and processing dates, thus ensuring clarity in the remittance advice associated with payments. Understanding this transaction set is crucial for ACH operations, as it streamlines the reconciliation process for entities receiving payments, thereby enhancing operational efficiency. The other options, while related to electronic data interchange, serve different purposes. For instance, ANSI ASC X12.835 is utilized for Healthcare Claim Payment/Advice, focusing on payment details specific to healthcare transactions, while ANSI ASC X12.521 and ANSI ASC X12.823 have their own specific applications that do not pertain to payment orders and remittance advice. Thus, recognizing the correct transaction set crucial for ACH professionals ensures accurate processing and compliance within the financial transaction ecosystem.