Positive Pay File Maintenance

The Positive Pay File Maintenance screen is used if you provide your company's bank with an ASCII file of all Cash Management direct checks, Accounts Payable checks, and Payroll checks that are issued. This screen enables you to specify the structure of the export file, and define the electronic data that will be sent to the bank. The bank will then authorize payments only on those checks that match the information sent to them.

Checks issued are stored in the check reconciliation file (BR.CHK) until the checks have been reconciled. Once the issued checks are reconciled and updated, they are no longer contained within the Check Reconciliation file and will be transferred to the Check Reconciliation History file (BR.HCHK). Since your company must send the information to the bank immediately following the issuance of checks, the creation of the ASCII file will be based on data in the Check Reconciliation file (BR.CHK). It is important to note that the banking industry does not adhere to a standard file layout for payment reporting by corporations to their banks. Because the file layout for the positive pay file will vary by bank, the software allows you to set up unlimited user-defined file formats to conveniently meet numerous individual bank requirements.