Want to eliminate one avenue of potential fraud? Most banks offer Positive Pay which systematically compares checks presented for payment to your issued check files to detect check numbers and dollar amounts that do not match. Advanced Business Systems has developed this feature and offers this as part of our ABS QuickStart database. Follow the instructions below to setup and process Positive Pay to help protect your company.
On the Bank Account Card, populate the following fields.
Bank Branch No
Bank Account No
Positive Pay Tab
Positive Pay Path
Positive Pay Filename
Positive Pay Export Type
Select the bank that you are submitting the Positive Pay file to, as shown above.
After you process and Post your Computer Checks in the Payment Journal, navigate to the Bank Account Card. Verify the information being sent by clicking on the Positive Pay Amount or the Positive Pay Count field on the Bank Account Card to view the Check Ledger Entries.
Once you verify the information is correct, select Create Positive Pay Export. This creates the file which you can upload to your bank’s website.
Click Save to save the Positive Pay file in the Positive Pay Path.
On your bank’s website, upload this file to their site.
When a check arrives at your bank they will compare it with the Positive Pay file that you uploaded. The bank will only honor the checks in this file for payment.