To reduce fraud, many banks support what is often referred to as Positive Pay. Positive pay is where you send to your Bank a list of checks that you have written so that they (your Bank) can compare the checks that get presented to them for payment to that list to verify that the check is real.
CMIS supports this capability with an Action item called “Export Disbursements.”
NOTE: CMIS supports a few different export options in Company setups. If an option that your bank needs is not available, please get in touch with support with the specifications that your Bank requires.
The following is the overall process:
- Process a batch of checks as you would normally do.
- Print the checks and “reports” as normal, and review that they are all printed correctly.
- Export this batch and send it to your Bank.
The process assumes that this is done no more than once per day.
Exporting the Disbursements
- From Actions, select Export Disbursements
- After CMIS processes the batch of Checks, a Message dialog box appears indicating where the exported file was saved.
- The default file name is “check_export_YYYYMMDD,” where YYYYMMDD is the year, month, and day of the checks.
- The default file path or location that is used is what is configured in your Company setups. (Setups > Companies > General > Processes > Processes Defaults)
Once this file is exported, follow your Bank’s instructions to upload it to their system.