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Real time payment functionality

  • 1.  Real time payment functionality

    Posted May 09, 2019 11:20 AM
    ​​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 May 10, 2019 07:18 AM
    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 May 14, 2019 11:17 AM
    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 May 15, 2019 08:41 AM
    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 May 16, 2019 09:57 AM
    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 May 16, 2019 10:04 AM

    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 May 10, 2019 09:13 AM
    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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