What is Positive Pay?
Positive Pay, also known as Safe Pay, is a method to reduce your exposure to unauthorized paper checks. A Positive Pay file is transmitted to your bank, listing all checks that you have printed and distributed. The bank uses this file to verify any check that is presented for payment.
Includes Payroll
Positive Pay will process checks produced by the Microsoft Dynamics SL Payroll system, as well as those produced by Accounts Payable.
Features:
The following features are included in Positive Pay:
- Supports both Accounts Payable and Payroll checks
- Full Multi-Company support – both in one database and in separate databases
- Multiple company checking accounts can be maintained and transmitted together (bank dependent)
- Numerous bank formats are available “out-of-the-box”, and the banks/formats currently supported are listed below (We add new banks/formats all the time. If you don’t see the format you require, please inquire!)
- Files and scripts can be secured by user-defined folder location
- Multiple file header & trailer records are supported – completely user defined
- File archiving
- Written completely in Microsoft Dynamics SL VB Tools – fully customizable
- eBanking Security to control access
Positive Pay Formats supported as of 1/7/2016:
ABN Amro
Access National Bank
ALLFirst Bank
ALLFirst Bank – 4DY
Amegy Bank of Texas
Amegy Bank – Payee
American National Bank (CO)
AmSouth Bank
AmSouth Bank – 07
Associated Bank
Associated Bank – ARP
Associated Bank – Teller
BancorpSouth – C
Bank Atlantic
Bank North
Bank of America
Bank of America – 100
Bank of America – 91
Bank of America – CA
Bank of America – DC
Bank of America – DRS1
Bank of America – HOGAN
Bank of America – IMPACS
Bank of America – MA
Bank of America – Payee (PNV)
Bank of America – Payee (PPV)
Bank of America – SMS – 316
Bank of Kansas City
Bank of Montreal – Enhanced
Bank of New York
Bank of New York – Payee
Bank of Texas
Bank of Tokyo – Mitsubishi – CMS – Fix
Bank of the West – CSV
Bank One
Boston Private Bank
Branch Banking & Trust Company (BB&T)
Bremer Bank
California Bank
Capital One Bank – TowerNet
Capital City Bank
Capstar Bank – CSV
Charter One Bank
Chemical Bank
Chevy Chase Bank
Citibank
Citibank – ARP
Citibank – CDSA
Citibank – Direct – NAD
Citibank – Full Reconcilement
Citibank – Multi
Citibank – PNA
Citizens Bank
Citizens Bank – PPP
City National Bank
City National Bank – CNB
Colorado/Arizona Business Bank
Comerica Bank
Comerica Bank – Payee
Commerce Bank
Commerce Bank (KC)
Compass Bank
Deutsche Bank
Eagle Bank
Eastern Bank (MA)
Fidelity Bank
Fifth Third Bank
Fifth Third Bank – Payee
First American Bank
First Financial Bank
First National Bank of Omaha
First Tennessee Bank
First Tennessee Bank – Payee
FirstBank (Colorado)
FirstMerit Bank
Firstrust Bank
First Western Bank – CSV
Flagship Bank
Fleet Bank – 2DY
Fleet Bank – CT
Fleet Maine National Association
Hancock Bank
Harris Bank
Harris Bank – Payee
HSBC Bank
HSBC Bank – Payee
HSBC Bank – Payee – Net
Huntington Bank
Huntington Bank – Payee
Iberia Bank
IronStone Bank
Jackson County Bank (WI)
Johnson Bank
JP Morgan Chase Bank
JP Morgan Chase Bank – ARP
JP Morgan Chase Bank – CDS
JP Morgan Chase Bank – PVE
JP Morgan Chase Bank – PVE-DE
JP Morgan Chase Bank – PVE-TX
JP Morgan Chase Bank – PWS
JP Morgan Chase Bank – TONCS
Key Bank
Key Bank – 220
Landmark Bank
LaSalle Bank
LaSalle Bank – 180
M & I Bank
M & I Bank – Payee
M & I Bank – Payee – 194
M & T Bank
M & T Bank – Payee
MB Financial Bank
Mellon Bank
Mellon Bank – Payee
Metro Bank
National Bank of Canada
National Bank of South Carolina
National City Bank
Nordea Bank
Northern Trust Bank
Northern Trust Bank – 112
Northern Trust Bank – BP
Northwestern Bank – ARP
Pacific Western Bank
Pinnacle National Bank
PNC Bank
PNC Bank – ARP-80
PNC Bank – Payee
PNC Bank – Pinacle-IV
PNC Bank – Pinacle-Fix
Prosperity Bank
Regions Bank
Regions Bank – 156
Regions Bank – 158
Royal Bank of Canada
Royal Bank of Canada – A/P Link
Royal Bank of Canada – Payee Match
Royal Bank of Canada – Payee w/Adr
Sandy Spring Bank (MD)
ScotiaBank
Security Bank of California
ShoreBank
Silicon Valley Bank-CSV
Silicon Valley Bank-CSV-Payee
SouthTrust Bank
Southern Bank
Sovereign Bank
Standard Positive Pay
SunTrust Bank
SunTrust Bank – 07-03
SunTrust Bank – CPR
SunTrust Bank – CPR-03
SunTrust Bank – Payee
Texas Capital Bank
The Private Bank – CSV
The Private Bank – Fixed
TD Bank – CSV
Toronto Dominion Bank
Union Bank
Union Planters Bank
United Bank
United Bank – CSV
United Commercial Bank – CSV
US Bank
US Bank – Payee
US Bank – SPT
Vectra Bank – CSV
Venture Bank
Wachovia Bank
Wachovia Bank – 150
Wachovia Bank – CSV
Wainwright Bank
Webster Bank
Wells Fargo Bank – ARP Register
Wells Fargo Bank – National
Wells Fargo Bank – Standard
Wells Fargo Bank – Standard-160
Whitney Bank
Wilmington Trust Bank
Available on Microsoft Dynamics SL v5x, 6x, 7x, 2011, 2015 and 2018 (all CUs)
Demo Videos
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Data Sheets
APEFT provides automatic electronic funds transfer of your Microsoft Dynamics SL AP Checks to your vendors’ bank accounts. By separating your EFT vouchers into their own batch, you can easily transmit that batch of checks (computer or manual) to your vendors via the national ACH system, and then print remittance advice slips or email them – your choice, by vendor.
Our eBanking Suite’s APEFT streamlines processing through various communication options. Most commonly used are browser or FTP transmissions. With a few clicks of your mouse, your payments are formatted and sent to your bank.
The Electronic Tax Payment feature fully supports the national EFTPS for many tax payment types. All electronic U.S. state tax payments are supported and any tax payment format can be accommodated.
Effective September 18, 2009, the new IAT (International ACH Transaction) type was introduced by NACHA. It is required when any payment transaction within the ACH system flows from the US to outside its territorial jurisdiction or vice versa. Version 9 of eBanking has been upgraded to support this new transaction.
Electroically pay:
- Vendor trade pay
- Employee expense reimbursements
- Grant payments
- State and Federal tax payments
- Child support payments
- Internationally (via IAT – international ACH Transaction)
- Seamless integration with Microsoft Dynamics SL Accounts Payable
- US ACH format
- Multiple payment accounts per vendor
- Multi-company / multi-account
- Remittance advices by email (completely customizable)
- Security – Account approval option
- Security – Amount approval option
- Flexible summarization options
- EFT test files
- Optional pre-notification
- Multiple transmissions in one day
- “One-Pass” payment selection filter
- Optional computer check or manual check workflow
- Balanced or unbalanced files
- Mixed debits/credits
- Flexible communications
- No intermediary clearinghouse required
- File archiving
Hersha Hospitality ROI Summary:
Hersha Hospitality Management has recently discovered how one module … SK Global’s Accounts Payable Electronic Funds Transfer (AP EFT) … can truly change business for the better. The organization plans to eliminate a large number of the 62,000 checks printed each year by implementing the APEFT add-on for MS Dynamics SL. Hersha expects 80% of their vendors will accept electronic transfers, improving their cash flow. Hersha’s ROI analysis yielded some very impressive results. The analysis showed a three year estimated cost of $26,000 for using AP EFT, including the purchase, implementation and customization of the module, along with annual maintenance costs and bank fees for EFT processing. After itemizing the cost of continuing to print checks, which included $21,000 in postage alone, they found an annual savings of $64,830! That’s a three year savings of almost $200,000!
Available on Microsoft Dynamics SL v5x, 6x, 7x, 2011, 2015 and 2018 (All CUs)
Demo Videos
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Data Sheets
FX Settlement Automation
FX Settlement Automation is a powerful enhancement available to Dynamics AX users taking advantage of the Vendor Payment Automation feature in our Treasury Automation Suite. This feature upgrade can minimize your currency risk when processing multi-currency payments.
Key FX Settlement Automation benefits include…
- Ability to process multi-currency vendor payments while getting the best exchange rates
- Integration with the leading currency trading & settlement platform
- Seamless flow between your AP payment journals, payments to your vendors, and this trading platform
- Ease of set-up — easily add this feature and begin pairing currencies via FX Settlement without leaving your Microsoft Dynamics 365 Finance and Operations/Microsoft Dynamics AX 2012 and Microsoft Dynamics AX 2009 system.
Contact us today to inquire about integrating with your foreign exchange platform.
