Positive Pay

A fraud prevention service called Positive Pay is being offered by a growing number of banks. This service allows the bank to receive notification of the name of the payee and the check amount prior to its being presented for payment. The bank will only honor checks conforming to an authorized list provided by the customer of the account. This fraud-prevention feature has been encouraged by the enactment of Sorbanes- Oxley.

SuttonDirect has interfaces for several banks, including Bank of America and a group of banks in New England who use a system called MICASH. If the company’s bank does not use one of these formats, SuttonDirect will write one for that particular bank.

Program Description
This program runs on command from any SYSPRO menu, reads checks issued from Accounts Payable and formats them to meet the bank’s specification. It also sends a void record if a check is voided in SYSPRO. It is typically done as the last step in the normal check processing cycle. It keeps track of the last check that was sent to the bank to use that as a starting point for the next check run.

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