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.
Positive Pay will process checks produced by the Microsoft Dynamics SL Payroll system, as well as those produced by Accounts Payable.
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