Payment Instrument (70/PY)

Set up this UDC table to establish relationships between the codes that your company uses in the Payment Instrument UDC (00/PY) table and the values in the payment instrument catalog that the regulation assigns and publishes.

The code is the value assigned in the Payment Instrument UDC (00/PY) to a specific payment instrument. You can use the Description 01 field to enter a description of the code (the system does not use the information in this field). The data in the Description 02 field is the code listed in the catalog published by the government.

Set up the relationship records that meet the requirements of your company. For example, you can set up these record types:

Codes	Description 01	Description 02
C	Checks	2
P	Printed Checks	2
T	Transfers of E-funds	3
E	Cash	1

In this example, the first two lines associate the records that use a payment instrument C (for Checks) and a payment instrument P (for Printed Checks) according to the Payment Instrument UDC table (00/PY), to the value 2 (for Checks) in the Check/Bank Transfers Classification by Payment Instrument (70/PY) table. The third record associates the payment instrument T (for Transfer of Electronic Funds) in UDC 00/PY to the value 3 (for Bank Transfers) in the 70/PY UDC table. The last record associates the transactions that use a payment instrument of E (for Cash) to the catalog value 1 (for Cash).

Depending on the value used in the Description 02 field, the system classifies the payment into the following categories, that generate different nodes that extract and display different pieces of information:

• Code 2: Checks

• Code 3: Bank transfers

• All other codes: Other method.

If the system does not find an association in this UDC table for the payment instrument used in a transaction, then the report assigns the code 98 (for Not Applicable) and reports the information for the record using the Other Method node.