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PLS HELP WITH POSITIVE PAY INTERFACE

Please help me with the following:

1) What is Positive Pay?

2) How do we configure Positive Pay which will include an interface to the 3 different bank accounts. It will send Check Number, Amount, Date, and Payee to the banks. What configuration is supposed to be done from a Functional FI-AP Consultant's side in AP. All the house banks and other bank related information is all configured. Please provide detailed answer on this.

THanks

Laks

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 21, 2007 at 10:01 AM

    Hi,

    Possitive pay file is used for check extraction. Through FCHX we can create a file of checks belongs to paying company code. Here the data is sorted according to accounting number and check number. With the using of this we can know the encashed checks, individual payment methods, amounts, void reason codes etc.

    Here we can change the format according to our Bankers requirement.

    Thanks & Regards

    Sunitha.

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