on 05-25-2007 7:03 AM
Hi gurus,
can any one tell in details about positive pay.
Thank you and regards
sasikanth.
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"Positive Payment" is a security process used with a bank to help reduce the risks associated with issuing printed checks. Basically the issuer sends a list of checks to the paying bank which describes the payees. The bank then matches the payee information as part of the clearing process.
There is not yet industry standards regarding interface format.
Oss#20855 offers some hints.
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Hi Sasikanth
Positive Pay is Paying for hours recorded, All hours worked and exceptions are recorded
assign points if useful
Regards
Genie
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