QuickBooks ^® Imprt Request for Payment Invoicing

• ~ Automate Account Receivable Collection
• ~ Automate Account Payable Payments
• ~ One-time and Recurring Debits / Credits

Secure QB Plugin payment processing through QuickBooks ^® specializes in the origination of moving money electronically.

Ask about our special:

Request for Payments

To import a FedNow Instant and Real-Time Payments (RTP) Request for Payment file into your business bank’s dashboard from QuickBooks Online (QBO), you’ll typically follow a series of steps to ensure your payment file is in the correct format and compatible with your bank’s platform.

Here is a detailed step-by-step guide to assist you in the process:

Step-by-Step Guide: Importing FedNow/RTP Request for Payment from QBO to Bank Dashboard

Step 1: Prepare Request for Payment in QuickBooks Online (QBO)

QuickBooks Online doesn’t natively support exporting payment requests in the ISO 20022 XML format (the standard format for FedNow/RTP payments). However, you can still manage the payees, payment amounts, and create transactions within QBO, which will then be exported for further processing.

1. Generate Invoices or Payment Requests:
   • In QBO, navigate to the Sales or Customers section and create Invoices or Payment Requests for the payments you wish to process.
   • Input the necessary information:
     • Payment amounts
     • Customer information (payees)
     • Payment terms (due dates, etc.)
2. Export Transactions from QBO:
   • Once the transactions are created, export the relevant transactions to a file format that can be converted to an ISO 20022 XML.
     • In QBO, go to Reports > Transaction List by Customer or Customer Balance Detail.
     • Customize the report to show the specific transactions you want to process for RTP or FedNow.
     • Export the data by clicking Export and choosing a file format like CSV or Excel.

Step 2: Convert Data to ISO 20022 XML Format

To process RTP or FedNow payments, the file must be in the ISO 20022 XML format. Since QBO doesn’t natively support this, you will need to convert the exported file.

1. Use a Converter Tool or Software:
   • You can use a third-party tool or software to convert the exported QBO file into the correct format (ISO 20022 XML). Some software options include:
     • Payment processing software that supports RTP or FedNow.
     • ERP systems or middleware that converts files for banking transactions.
   • Alternatively, you can manually map the CSV or Excel data to the ISO 20022 XML schema, though this requires technical knowledge.
2. Validate the File:
   • Ensure that the generated ISO 20022 XML file follows the required format. You can use an XML validator to check for structural integrity.

Step 3: Upload File to Your Business Bank’s Dashboard

1. Log in to Your Business Bank Account:
   • Access your bank’s dashboard where RTP or FedNow payments can be processed. Log in using your business credentials.
2. Navigate to the Payment Upload Section:
   • Find the section for Instant Payments, Real-Time Payments (RTP), or FedNow Services.
   • This is typically found under the Payments or Transfers section of your bank’s online platform.
3. Upload the ISO 20022 XML File:
   • Look for an option that says “Import Payments” or “Upload File.”
   • Select the converted ISO 20022 XML file that you created earlier.
   • Review the details, and if everything looks correct, upload the file.
4. Validate and Submit:
   • After the file is uploaded, your bank’s system will typically validate the file’s structure and content. Check for any errors.
   • If validation is successful, confirm and submit the request for processing.
   • RTP or FedNow payments will typically process instantly or in real-time.

Step 4: Review and Track Payment Status

1. Monitor Payment Status:
   • After submission, monitor the real-time payment status through your bank’s dashboard. You can see whether the payments have been completed or are still pending.
   • Most banks will provide real-time updates on RTP or FedNow payments, allowing you to track the status of each payment request.
2. Verify Payment Completion:
   • Verify that the payments have been processed by checking the transaction history. Some banks may also send email confirmations for each successful transaction.

Additional Considerations:

• Bank-Specific Procedures:
  • Each bank may have a slightly different process for uploading and processing ISO 20022 XML files for FedNow or RTP payments. Consult with your bank for specific instructions if needed.
• File Size Limits:
  • Ensure the file you upload does not exceed your bank’s size limits for batch payments.
• Third-Party Integrations:
  • If your bank offers integration with QBO or an API for real-time payments, you may be able to bypass manual file uploads and automate the process through an API connection.

Conclusion:

By following these steps, you can successfully prepare, convert, and upload your FedNow/RTP Request for Payment file from QuickBooks Online into your business bank’s dashboard. Make sure to validate the file and ensure it complies with ISO 20022 standards for successful payment processing.

Call us, the .csv and or .xml Request for Payment (RfP) file you need while on your 1st phone call! We guarantee our reports work to your Bank and Credit Union. We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-Time Payments to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. U.S. Companies need help to learn the RfP message delivering their bank. Today Payments' ISO 20022 Payment Initiation (PAIN .013) show how to implement Create Real-Time Payments Request for Payment File up front delivering message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continuing through a "Payment Hub", will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank.

Our in-house QuickBooks payments experts are standing ready to help you make an informed decision to move your company's payment processing forward.

 1) Free ISO 20022 Request for Payment File Formats, for FedNow and Real-Time Payments (The Clearing House) .pdf for you manually create "Mandatory" (Mandatory data for completed file) fields, start at page 4, with "yellow" highlighting. $0.0 + No Support

2) We create .csv or .xml formatting using your Bank or Credit Union. Create Multiple Templates. Payer/Customer Routing Transit and Deposit Account Number may be required to import with your bank. You can upload or "key data" into our software for File Creation of "Mandatory" general file.

Fees = $57 monthly, including Support Fees and Batch Fee, Monthly Fee, User Fee, Additional Payment Method on "Hosted Payment Page" (Request for file with an HTML link per transaction to "Hosted Payment Page" with ancillary payment methods of FedNow, RTP, ACH, Cards and many more!) + $.03 per Transaction + 1% percentage on gross dollar file,

3) Payer Routing Transit and Deposit Account Number is NOT required to import with your bank. We add your URI for each separate Payer transaction.

Fees Above 2) plus $29 monthly additional QuickBooks Online "QBO" formatting, and "Hosted Payment Page" and WYSIWYG

4) Above 3) plus Create "Total" (over 600 Mandatory, Conditional & Optional fields of all ISO 20022 Pain .013) Price on quote.