Step 1: Set Up a Positive Pay List Format
To set up positive pay list format for a bank account:
- From the left navigation panel, click Accounting.
- From atop the Accounting gray left navigation, click Bank.
- On the Banks screen, single-click the bank, and then from the toolbar, click Action > Setup Positive Pay List.
- On the Setup Positive Pay List screen, from the Date Format field’s drop-down, click the desired date format.
- In the Check Label field, enter up to four characters to identify the transaction type Check.
- In the Void Label field, enter up to four characters to identify the transaction type Void.
- From the Delimiter field’s drop-down, click the delimiter character to use in the file format.
- In the Maximum Payee Length field, enter the maximum number of characters for the payee’s name in the file.
- In the Field Mapping section, use the right and left arrows to include or exclude report fields.
Note
You can press and hold Ctrl and then click to select multiple fields at once. You can also drag and drop the fields to reorder them.
- In the lower right corner, click Save.
The system saves your positive pay file format.
Step 2: Generate a Positive Pay List
To generate a positive pay list:
To set up positive pay list format for a bank account:
- From the left navigation panel, click Accounting.
- From atop the Accounting gray left navigation, click Bank.
- On the Banks screen, double-click the bank, or single-click it to highlight it, and then from the toolbar, click Details.
- Atop the Banks gray left navigation, click Transactions.
- From the toolbar atop the Transactions screen, click Action > Positive Pay List.
- From the Range Type field’s drop-down, click the desired date range.
CosmoLex remembers the positive pay file generation Date/Time on associated transactions and only exports items not previously exported to ensure clean data each time you run the report.The Positive pay file generation also provides these options:
(1) Include Void - Include or exclude void transactions
(2) Include Previously Expired - Includes transactions even if they were previously exported.
- Useful in cases where you regenerate an export for verification purposes
(3) Include Previously Expired Exported Date - Only be available if you select option #2
- Overrides the associated positive pay export date/time if associated with the transactions
5. Click Generate.
The system generates the positive pay list in Excel (.csv) format and downloads it to your designated location.
Each commercial bank has its own Positive Pay transmission format. CosmoLex compiles and exports the information in a format third-party software designed to act as a translator between billing software and banks can read.
Check with your bank to learn more about their Positive Pay services, format requirements, and third-party software suggestions.