QuickBooks ^® Credit Union Request for Payment

• ~ 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

To import and upload a Request for Payment (RfP) file for FedNow and Real-Time Payments (RTP) from QuickBooks Online (QBO) to your Credit Union for one-time payments or a batch with recurring subscriptions, follow this guide. This workflow involves using QBO to generate and export the necessary payment data and uploading it to your Credit Union’s dashboard.

Steps for Importing and Uploading FedNow & RTP RfP Files from QBO to Your Credit Union

1. Set Up Integration Between QuickBooks Online (QBO) and SecureQBPlugin

• Download and install SecureQBPlugin from SecureQBPlugin.com.
• During the installation process, connect SecureQBPlugin to your QuickBooks Online (QBO) account to access your financial data such as invoices, payment requests, customer information, and more.
• SecureQBPlugin will allow you to export payment data in formats required by your Credit Union, such as ISO 20022 XML (Pain.013), CSV, or JSON.

2. Prepare Payment Data in QBO

• For One-Time Payments: Ensure the invoice or payment request is already entered in QBO. This invoice should include essential details such as:
  • Customer (Payer) information (name, account number/IBAN if applicable).
  • Payment amount and due date.
  • Invoice number and remittance details.
• For Batch Recurring Payments: If processing recurring payments, make sure to have multiple invoices set up in QBO with details for each recurring transaction, including payment frequency (monthly, weekly) and start/end dates.

3. Export Payment Data Using SecureQBPlugin

Using SecureQBPlugin, export the payment data from QBO in the format required by your Credit Union’s RTP or FedNow system.

Export Options:

• One-Time Payments: Export a single invoice as a Request for Payment (RfP) file.
• Batch Recurring Payments: Export multiple invoices for recurring payments, ensuring the correct frequency and scheduling details are included.

File Formats Supported:

• ISO 20022 XML (Pain.013): Standard format for real-time payments.
• CSV: Useful for batch payments with multiple transactions.
• JSON: Often used in API-based payment systems.

Example File Formats:

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

xml

<Document>

  <CstmrCdtTrfInitn>

    <GrpHdr>

      <MsgId>ONETIMERFP001</MsgId>

      <CreDtTm>2024-09-20T12:00:00</CreDtTm>

      <NbOfTxs>1</NbOfTxs>

      <CtrlSum>1000.00</CtrlSum>

    </GrpHdr>

    <PmtInf>

      <PmtInfId>PmtInf001</PmtInfId>

      <PmtMtd>TRF</PmtMtd>

      <ReqdExctnDt>2024-09-20</ReqdExctnDt>

      <Dbtr>

        <Nm>Business 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">1000.00</InstdAmt>

      </Amt>

      <RmtInf>

        <Ustrd>Invoice #INV001</Ustrd>

      </RmtInf>

    </PmtInf>

  </CstmrCdtTrfInitn>

</Document>

Example CSV for Batch Recurring Payments:

csv

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

BATCHRECUR001,Business Customer 1,US1234567890,Your Business Name,US9876543210,1000.00,USD,INV001,Monthly,2024-09-20,2025-09-20

BATCHRECUR001,Business Customer 2,US2234567890,Your Business Name,US9876543210,1500.00,USD,INV002,Monthly,2024-09-20,2025-09-20

Example JSON for One-Time Payment:

json

{

  "PaymentRequest": {

    "MsgId": "ONETIMERFP001",

    "Debtor": {

      "Name": "Business Customer Name",

      "IBAN": "US1234567890"

    },

    "Creditor": {

      "Name": "Your Business Name",

      "IBAN": "US9876543210"

    },

    "Amount": {

      "Currency": "USD",

      "Value": 1000.00

    },

    "RemittanceInformation": "Invoice INV001"

  }

}

4. Log into Your Credit Union’s RTP or FedNow Dashboard

• Log into the business banking portal of your Credit Union.
• Navigate to the section that supports FedNow or Real-Time Payments (RTP).
• Ensure that you have access to upload RfP files for processing.

5. Upload the RfP File into the Credit Union’s Dashboard

For One-Time Payment:

• Upload the RfP file: Choose the ISO 20022 XML, CSV, or JSON file exported from SecureQBPlugin.
• Review the payment details in the portal:
  • Ensure the correct payer (customer) and payment details are included.
• Submit the payment: The payment will be processed in real-time, and the payer will be notified to complete the payment instantly.

For Batch Recurring Payments:

• Upload the batch file containing all the recurring transactions.
• Review the file contents to ensure all recurring payment details, amounts, and dates are correct.
• Submit the file: The recurring payments will be processed according to the defined schedule (e.g., monthly), and each transaction will be completed as per the schedule.

6. Monitor Payment Status in the Dashboard

• After submitting the RfP file, monitor the status of each payment through your Credit Union’s portal:
  • For one-time payments, you will receive a confirmation when the payment is completed.
  • For recurring payments, you can track each scheduled payment as it is processed (e.g., monthly or weekly).

7. Reconcile Payments in QuickBooks Online

• Once the payments are processed, use SecureQBPlugin to import payment confirmations back into QuickBooks Online.
• Reconcile the payments with their corresponding invoices in QBO to ensure that all records are updated and accurate.

Automate Recurring Payment Submissions (Optional)

• If your business processes recurring payments frequently, consider setting up automated exports using SecureQBPlugin.
• Some Credit Unions provide APIs that allow you to automate the submission of RfP files, reducing the need for manual uploads.

Conclusion

By integrating QuickBooks Online (QBO) with SecureQBPlugin, you can efficiently export and upload FedNow and Real-Time Payments (RTP) Request for Payment (RfP) files into your Credit Union's dashboard, whether for one-time payments or recurring batch payments. This process ensures smooth and efficient real-time payments while keeping your accounting records up to date in QBO.

Would you like further assistance with automating this process or setting up recurring payments? Let us know!

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.