QuickBooks ^® RfP Format

• ~ 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 FedNow and Real-Time Payments (RTP) Request for Payment (RfP) messages from QuickBooks Online (QBO) into your business bank using SecureQBPlugin, the process will involve exporting the payment data from QBO in a suitable format (such as ISO 20022, CSV, XML, or JSON), and then submitting that payment data to your bank's payment processing system via a FedNow or RTP-supported interface.

Here’s how you can approach this process step by step:

1. Ensure Compatibility with Your Bank

First, confirm that your business bank supports FedNow or Real-Time Payments and that it can process Request for Payment (RfP) messages based on ISO 20022 format. Most banks that support RTP and FedNow will have APIs or file upload portals where you can submit payments in the appropriate format.

2. Prepare the Request for Payment in QBO

In QuickBooks Online, when you're issuing invoices or requesting payments from customers, these transactions can be structured and exported in a format that your bank can understand. QBO allows you to generate reports or exports with relevant payment information such as:

• Debtor information (your customer).
• Creditor information (your business).
• Payment amounts and currency.
• Invoice numbers and remittance details.

3. Install and Configure SecureQBPlugin

• Download and install SecureQBPlugin from SecureQBPlugin.com.
• Configure the plugin to connect with your QuickBooks Online account. You'll need to authenticate your QBO account within the plugin.

4. Export the Payment Data from QuickBooks Online

Using SecureQBPlugin, export the relevant Request for Payment (RfP) or payment information from QBO in a format that your bank accepts (likely ISO 20022 XML, CSV, or JSON). This will typically involve:

• Navigating to the plugin’s export functionality.
• Selecting the specific payments or transactions you want to export (such as invoices that need to be paid).
• Choosing the format for export (ISO 20022, CSV, XML, JSON).

Example Export: If your bank requires ISO 20022 Pain.013 format, you would export an XML like this:

xml

<Document>

   <CstmrCdtTrfInitn>

      <GrpHdr>

         <MsgId>REQUEST001</MsgId>

         <CreDtTm>2024-09-15T12:34:56</CreDtTm>

         <NbOfTxs>1</NbOfTxs>

      </GrpHdr>

      <PmtInf>

         <PmtInfId>PmtInf123</PmtInfId>

         <PmtMtd>TRF</PmtMtd>

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

         <Dbtr>

            <Nm>John Doe</Nm>

         </Dbtr>

         <DbtrAcct>

            <Id>

               <IBAN>US123456789</IBAN>

            </Id>

         </DbtrAcct>

         <Cdtr>

            <Nm>Your Business Name</Nm>

         </Cdtr>

         <CdtrAcct>

            <Id>

               <IBAN>US987654321</IBAN>

            </Id>

         </CdtrAcct>

         <RmtInf>

            <Ustrd>Invoice #456</Ustrd>

         </RmtInf>

      </PmtInf>

   </CstmrCdtTrfInitn>

</Document>

This XML is structured in the ISO 20022 standard, where:

• MsgId is the unique identifier for the payment request.
• Dbtr contains details about the customer (debtor) making the payment.
• Cdtr contains details about your business (creditor).
• RmtInf contains remittance information, such as the invoice number.

5. Map and Validate the Data

During the export process, use SecureQBPlugin to map the fields from QBO to the corresponding fields in the ISO 20022 format (or whichever format your bank requires). This ensures that the data is accurate and meets the bank’s submission requirements.

For instance:

• Customer (Debtor) Information: Mapped to the debtor fields in the payment request.
• Your Business (Creditor) Information: Mapped to the creditor fields.
• Payment Amounts: Mapped to the respective amount fields.
• Invoice Numbers: Mapped to remittance information (optional but recommended).

6. Submit the Payment File to Your Business Bank

Once you’ve exported the data in the correct format:

• Log into your bank’s portal or payment system that supports FedNow or RTP.
• Upload the ISO 20022 XML, CSV, or JSON file you’ve generated from QBO.
• Review the data and submit the file for processing.

If your bank provides an API for submitting real-time payments, you can automate this process by integrating the API into your workflow. Many banks that support FedNow or RTP have API endpoints for:

• Submitting Request for Payment (RfP) messages.
• Monitoring payment status.
• Retrieving payment confirmation or rejection notices.

7. Monitor Payment Status

Once the payment request has been submitted to your bank:

• Monitor the status of the real-time payment.
• Your bank’s system should provide updates on the success or failure of the payment, as well as any remittance details or payment confirmations.

8. Reconcile the Payments in QBO

After the payments are processed by your bank:

• Import the confirmation or reconciliation data back into QuickBooks Online using SecureQBPlugin.
• Match the payments to the corresponding invoices or transactions within QBO.
• Verify that the payments have been correctly reconciled in your financial records.

Final Thoughts

By using SecureQBPlugin to bridge QuickBooks Online and your business bank’s FedNow or RTP services, you can streamline the payment request process and enable real-time, ISO 20022-compliant payments. The key steps involve exporting the payment data from QBO, formatting it correctly using SecureQBPlugin, and submitting it to your bank’s FedNow or RTP system.

Would you like help TodayPayments with a specific step in this process, such as setting up the export format or mapping the fields?

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.