Upload Request for Payment RfP

To upload FedNow and Real-Time Payments (RTP) Request for Payment (RfP) files into your business bank's dashboard, whether for one-time payments or batches of recurring payments, you will need to follow the process outlined below. This workflow ensures that your payments are processed accurately and efficiently through your bank's real-time payment system.

Step-by-Step Guide for Uploading RfP Files to Your Business Bank's Dashboard

1. Ensure You Have Access to Your Bank’s FedNow or RTP Dashboard

• Confirm that your business bank supports FedNow or RTP and that you have access to the relevant dashboard or payment portal.
• Ensure you have the necessary credentials (username, password, two-factor authentication) to log into the portal.

2. Prepare the RfP Data in QuickBooks Online (QBO)

• For One-Time Payments: Ensure you have created and finalized the invoice or payment request in QuickBooks Online. The invoice should include details such as the payer (customer), payment amount, due date, and other remittance details.
• For Batch Recurring Payments: If you are setting up a batch of payments, ensure you have multiple invoices or recurring payments set up in QBO. You will export these as a batch.

3. Export the RfP File Using SecureQBPlugin

SecureQBPlugin (available at SecureQBPlugin.com) allows you to export your payment data from QuickBooks Online in formats such as ISO 20022 XML (Pain.013), CSV, or JSON. Follow these steps to generate the file:

For One-Time Payments:

• Open SecureQBPlugin and select the invoice or payment you wish to send as a one-time request for payment.
• Choose Export Format: Select the format your bank requires (e.g., ISO 20022 XML, CSV, or JSON).
• Map Fields: The plugin will guide you through mapping fields such as payer name, IBAN (if applicable), payment amount, invoice number, and due date.
• Export the File: Save the file in the required format for upload.

For Batch Recurring Payments:

• Select multiple invoices or payments for batch processing in SecureQBPlugin.
• Configure Recurring Options: Set the payment frequency (e.g., weekly, monthly) and duration (start and end dates) for recurring payments.
• Export the Batch File: Save the batch file in the required format (ISO 20022 XML, CSV, or JSON).

Sample Files:

1. ISO 20022 XML (Pain.013) for One-Time Payment:

xml

<Document>

  <CstmrCdtTrfInitn>

    <GrpHdr>

      <MsgId>ONEPAY001</MsgId>

      <CreDtTm>2024-09-15T12:00:00</CreDtTm>

      <NbOfTxs>1</NbOfTxs>

      <CtrlSum>1500.00</CtrlSum>

    </GrpHdr>

    <PmtInf>

      <PmtInfId>PmtInf001</PmtInfId>

      <PmtMtd>TRF</PmtMtd>

      <ReqdExctnDt>2024-09-15</ReqdExctnDt>

      <Dbtr>

        <Nm>Customer Name</Nm>

      </Dbtr>

      <DbtrAcct>

        <Id>

          <IBAN>US1234567890</IBAN>

        </Id>

      </DbtrAcct>

      <Cdtr>

        <Nm>Your Business Name</Nm>

      </Cdtr>

      <CdtrAcct>

        <Id>

          <IBAN>US9876543210</IBAN>

        </Id>

      </CdtrAcct>

      <Amt>

        <InstdAmt Ccy="USD">1500.00</InstdAmt>

      </Amt>

      <RmtInf>

        <Ustrd>Invoice #INV001</Ustrd>

      </RmtInf>

    </PmtInf>

  </CstmrCdtTrfInitn>

</Document>

2. CSV for Batch Recurring Payments:

csv

MsgId,DebtorName,DebtorIBAN,CreditorName,CreditorIBAN,Amount,Currency,InvoiceNumber,Frequency,StartDate,EndDate

BATCHPAY001,Customer One,US1234567890,Your Business Name,US9876543210,1500.00,USD,INV001,Monthly,2024-09-15,2025-09-15

BATCHPAY001,Customer Two,US2234567890,Your Business Name,US9876543210,2000.00,USD,INV002,Monthly,2024-09-15,2025-09-15

3. JSON for One-Time Payment:

json

{

  "Payment": {

    "MsgId": "ONEPAY001",

    "Debtor": {

      "Name": "Customer One",

      "IBAN": "US1234567890"

    },

    "Creditor": {

      "Name": "Your Business Name",

      "IBAN": "US9876543210"

    },

    "Amount": {

      "Currency": "USD",

      "Value": 1500.00

    },

    "RemittanceInformation": "Invoice INV001"

  }

}

4. Log into Your Business Bank’s Dashboard

Once the RfP file is ready, log into your business bank’s FedNow or RTP dashboard to upload the file.

Steps:

• Navigate to the payment section of your bank's portal.
• Look for the FedNow or RTP section that supports real-time payments and request for payments.
• Select Upload RfP File: Choose the option to upload a file. Most banks have this functionality for processing batch payments or one-time payments.

5. Upload the RfP File to Your Bank’s Dashboard

For One-Time Payment:

• Select the RfP file exported from SecureQBPlugin.
• Review the payment details (payer, amount, invoice information) before submitting.
• Submit the payment request: Once submitted, your bank will process the request, and the payer will receive a notification to complete the payment via the real-time payment network.

For Batch Recurring Payments:

• Upload the batch file containing multiple payment requests.
• Review the details for each payment, ensuring that the amounts, payer details, and recurring schedule are correct.
• Submit the batch file for processing. If it's a recurring payment batch, your bank will process the payments automatically based on the schedule.

6. Monitor Payment Status via the Bank’s Dashboard

After uploading the file, you can monitor the status of your payments directly from your bank's dashboard:

• Track real-time payment statuses: Once the payer accepts the RfP, the payment is processed instantly, and you'll receive confirmation from the bank.
• View recurring payments: For recurring batch payments, the dashboard will display the scheduled payments and their statuses (completed, pending, or failed).

7. Reconcile Payments in QuickBooks Online

Once payments are processed:

• Import the payment confirmation from your bank back into QBO using SecureQBPlugin. This helps ensure that your records in QBO are updated to reflect the successful payments.
• Reconcile the payments: Match the payments to the corresponding invoices in QBO to keep your accounting records accurate.

Automate Future Payment Submissions

• For businesses that handle recurring payments frequently, consider automating the export of RfP files using SecureQBPlugin.
• Set up automatic uploads: Some banks provide API support for real-time payments, allowing you to submit payments programmatically without logging into the dashboard manually.

Final Thoughts

By using SecureQBPlugin integrated with QuickBooks Online, you can efficiently upload FedNow and RTP Request for Payment (RfP) files to your business bank's dashboard for one-time or batch recurring payments. Ensure that the files are correctly formatted and the payment details are accurate to avoid any processing issues.

Would you like assistance with specific file formats, mapping fields, or automating this process?