QuickBooks ^® Real-time Payments 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.

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Request for Payments

For merchants (Payees) to use QuickBooks Online (QBO) and QuickBooks Enterprise to create Real-Time Payments (RTP) Request for Payment (RfP) formatted files that are compatible with all financial institutions, leveraging tools like SecureQBPlugin is key. This allows the creation, formatting, and transmission of ISO 20022 compliant RTP files to ensure payment interoperability across various banking networks such as FedNow and The Clearing House RTP.

Steps for Merchants (Payees) Using QuickBooks for RTP:

1. Setup the Integration with SecureQBPlugin:

• SecureQBPlugin is a tool that integrates with both QuickBooks Online and QuickBooks Enterprise. It allows you to create RTP Request for Payment (RfP) files compliant with ISO 20022 PAIN.013 standards.
• This plugin ensures seamless communication between your QuickBooks software and financial institutions supporting Real-Time Payments.

2. Create Invoices in QuickBooks:

• In QuickBooks Online (QBO) or QuickBooks Enterprise, you can create a new invoice as usual by inputting:
  • Customer details (debtor information),
  • Payment amount,
  • Due date,
  • Invoice reference,
  • Description of goods/services.
• The SecureQBPlugin will format this information into an RTP-compatible Request for Payment file.

3. Generate RTP Request for Payment Files:

• After creating the invoice, the SecureQBPlugin automatically generates an RTP file in ISO 20022 XML format. Key file attributes include:
  • Creditor (Payee) Details: Your business’s name, address, and banking information (e.g., IBAN, Routing Number).
  • Debtor (Payer) Details: Your customer's information, including their account number and bank details.
  • Payment Amount and Due Date: The specific amount being requested and when it’s due.
  • Remittance Information: Invoice reference numbers or descriptions to help the payer understand the transaction.

4. Send the Request for Payment (RfP) to the Payer’s Financial Institution:

• The RfP file can be sent directly to the payer’s financial institution via:
  • API: Direct integration with banks that support real-time payments.
  • SFTP: For batch file uploads to the bank.
  • Email/SMS: The plugin can generate a payment link embedded within the invoice that redirects the payer to a secure payment page, allowing real-time payment via RTP systems like FedNow or The Clearing House RTP

Real-Time Request Payment

Real-Time Instant Payments.

5. Payer Approval and Real-Time Payment Processing:

• The payer (customer) receives the RfP either through their bank’s online dashboard or via a secure payment link. They can approve the payment, and funds will be transferred instantly from their account to the merchant’s account in real time.
• Both payer and payee receive immediate confirmation of the transaction, ensuring transparency.

6. Automatic Reconciliation in QuickBooks:

• Once the payment is processed, QuickBooks automatically marks the invoice as “Paid,” updating your records without any manual intervention. This automatic reconciliation saves time and reduces errors.

7. Recurring Payments (Optional):

• For recurring payments, merchants can set up regular invoices in QuickBooks, and the SecureQBPlugin will automatically generate and send the RfP files at each billing cycle. Payments are processed and reconciled in real-time, reducing the need for manual follow-ups

Payments Real-Time.

Benefits for Merchants (Payees):

• Faster Payment Processing: Real-time payments reduce the payment cycle, improving cash flow.
• Automation: Automated file generation, payment tracking, and reconciliation reduce manual effort.
• Security and Compliance: The integration ensures secure, compliant transactions, reducing the risk of fraud.
• Compatibility with All Financial Institutions: The ISO 20022 PAIN.013 format is accepted by most financial institutions globally, ensuring that your RfP files are processed without issue.

Conclusion

Using QuickBooks Online and QuickBooks Enterprise with SecureQBPlugin, merchants can easily create RTP-compliant RfP files, ensuring real-time payments through any financial institution. The automatic reconciliation and ease of use enhance operational efficiency and provide better cash flow management for businesses.

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.