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Real time payment functionality

  • 1.  Real time payment functionality

    Posted 16 days ago
    ​​Is there a product offering or a method for Dyanamics SL to indicate real time payments in a file to the bank?

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    Karen Keim
    Director of Accounting
    Hello! Florida Destination Management Inc
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  • 2.  RE: Real time payment functionality

    BRONZE CONTRIBUTOR
    Posted 15 days ago
    If you are referring to Positive Pay, where a file is transmitted to the bank so they can verify any checks presented to them for disbursement, you can either:
    1. Purchase the Positive Pay software from SKSoft and configure it to the bank's specs
    2. Get the file layout and format from the bank, and create a report that can be run to .csv, .txt, .xls (depending on what the bank accepts) and run it for each AP check batch, then upload or send to the bank.
    I have sites that use each method successfully.

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    Mark Ehleben
    President
    QBI Consulting, LLC
    Warminster PA
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  • 3.  RE: Real time payment functionality

    Posted 11 days ago
    Actually I'm talking about real time payments which is a  new payment mechanism being released by the banks later this month.  It's the first new payment mechanism being released since ACH.  It is a different payment type and is an instantaneous payment.  The  banks will be allowing files to be created and sent with this payment type or you can pay one individual at a time. They are also working with payroll companies to allow instant payments for payroll.  I was just wondering if any of our partners are ahead of the game working on a way to send these files so we can implement quickly.

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    Karen Keim
    Director of Accounting
    Hello! Florida Destination Management Inc
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  • 4.  RE: Real time payment functionality

    Posted 10 days ago
    Is this with using the XML file type?

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    Anastasia Sherman
    AnazaoHealth
    Tampa FL
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  • 5.  RE: Real time payment functionality

    BRONZE CONTRIBUTOR
    Posted 9 days ago
    Karen - Has your bank been able to provide a file format?  I expect that the ebanking process will not be any different other than a new file format (maybe).

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    Randy Andrews
    Manager - SL Support
    RSM
    Gaithersburg
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  • 6.  RE: Real time payment functionality

    Posted 9 days ago

    Randy

    We have not seen a file format yet.  We're supposed to be receiving something the end of the month.  I would assume it would be similar to ACH or positive pay with just a different payment type notation.



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    Karen Keim
    Director of Accounting
    Hello! Florida Destination Management Inc
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  • 7.  RE: Real time payment functionality

    Posted 15 days ago
    Yes, we're currently implementing Wires Plus from SK software.  The mechanism can send and receive bank files (based on the bank's specification).  This includes ACHs, Wires, and Positive Pay

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    Anastasia Sherman
    AnazaoHealth
    Tampa FL
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