Positive Pay Banking

Positive Pay is an automated fraud detection tool offered by the Cash Management Department of most banks. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.

Positive Pay requires the company to send (transmit) a file of issued checks to the bank each day checks are written. When those issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks.

This built-in FHA Software accounting A/P Check Disbursement Entry - Import feature provides the ability to export check run details to a .CSV file that is uploaded to various Banking Institutions that offer Positive Pay services.

To access the Postive Pay Banking feature, click-on Accounting .. A/P Check Disbursement Entry .. Export .. Postive Pay Banking from the main FHA Software window. Click-on the HELP button for more Positive Pay Banking feature details.