QuickBooks ^® FedNow Message Specification Invoicing

• ~ 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 integrate the FedNow Request for Payment (RfP) Message Specification into QuickBooks Online (QBO) via the SecureQBPlugin.com plugin, you need a format that allows communication between FedNow's messaging standards (ISO 20022-based) and QBO's API. The integration must also be structured to allow seamless payment request creation and reconciliation within QuickBooks.

Here’s an overview of how to structure the FedNow RfP message for integration into QBO using SecureQBPlugin.com. This format assumes that the SecureQBPlugin facilitates mapping of financial data between the FedNow payment system and QuickBooks, leveraging APIs or custom connectors.

FedNow Request for Payment Message Specification Format for QBO Integration

1. Message Header

• Message Identifier (MsgId): A unique identifier for the RfP message.
  • QBO Field Mapping: TxnId
  • Data Type: String (Max length: 35)
  • Example: RFP-123456789-QBO
• Creation Date and Time (CreDtTm): Date and time when the message is created.
  • QBO Field Mapping: MetaData.CreateTime
  • Data Type: DateTime (ISO 8601)
  • Example: 2023-12-05T10:15:30Z
• Message Type (MsgTp): Type of message, which is always "Request for Payment" (RFP).
  • QBO Field Mapping: Custom Field
  • Data Type: String (Fixed value: RFP)
  • Example: RFP

2. Initiating Party Information

• Initiating Party Name (InitgPtyNm): Name of the entity initiating the payment request.
  • QBO Field Mapping: Vendor.DisplayName or Customer.DisplayName
  • Data Type: String (Max length: 140)
  • Example: ABC Corp
• Initiating Party Identifier (InitgPtyId): Unique identifier for the initiating party.
  • QBO Field Mapping: Vendor.Id or Customer.Id
  • Data Type: String (Max length: 35)
  • Example: 123456789
• Contact Information (InitgPtyCtct): Optional contact information.
  • QBO Field Mapping: Vendor.PrimaryEmailAddr or Customer.PrimaryEmailAddr
  • Data Type: String (Max length: 100)
  • Example: contact@abccorp.com

3. Creditor Information

• Creditor Name (CdtrNm): Name of the party to whom payment is owed.
  • QBO Field Mapping: Vendor.DisplayName
  • Data Type: String (Max length: 140)
  • Example: XYZ Services Inc.
• Creditor Identifier (CdtrId): Unique identifier for the creditor.
  • QBO Field Mapping: Vendor.Id
  • Data Type: String (Max length: 35)
  • Example: 987654321

4. Debtor Information

• Debtor Name (DbtrNm): Name of the party from whom the payment is requested.
  • QBO Field Mapping: Customer.DisplayName
  • Data Type: String (Max length: 140)
  • Example: John Doe
• Debtor Identifier (DbtrId): Unique identifier for the debtor.
  • QBO Field Mapping: Customer.Id
  • Data Type: String (Max length: 35)
  • Example: 654321987

5. Payment Details

• Payment Amount (PmtAmt): The amount requested in the payment.
  • QBO Field Mapping: Txn.TxnTaxDetail.TotalAmt
  • Data Type: Decimal (Precision: 18, 2)
  • Example: 150.00
• Currency (Ccy): Currency in which the payment is requested.
  • QBO Field Mapping: Txn.CurrencyRef
  • Data Type: String (ISO 4217 Code)
  • Example: USD
• Payment Due Date (DueDt): Date by which the payment should be made.
  • QBO Field Mapping: Txn.DueDate
  • Data Type: Date (ISO 8601)
  • Example: 2023-12-20

6. Invoice/Reference Information

• Invoice Number (InvNb): Reference number for the payment request.
  • QBO Field Mapping: Txn.DocNumber
  • Data Type: String (Max length: 35)
  • Example: INV-456789
• Reference Note (RfrdDoc): Optional reference or memo field.
  • QBO Field Mapping: Txn.PrivateNote
  • Data Type: String (Max length: 140)
  • Example: Payment for services rendered in November.

7. Remittance Information

• Remittance Information (RmtInf): Details about the payment’s purpose.
  • QBO Field Mapping: Txn.Line.Description
  • Data Type: String (Max length: 140)
  • Example: Invoice #456 for Consulting Services.

8. Payment Terms

• Payment Terms (PmtTrms): Special payment terms, such as discounts.
  • QBO Field Mapping: Txn.SalesTermRef
  • Data Type: String (Max length: 140)
  • Example: 2% discount if paid by 2023-12-15.

Integration Workflow with SecureQBPlugin:

1. SecureQBPlugin Setup: Ensure that SecureQBPlugin is properly installed and configured to interface with both FedNow (for receiving payment requests) and QuickBooks Online (for updating records).
2. Mapping Configuration: Use SecureQBPlugin to map the fields from FedNow RfP messages to corresponding QuickBooks Online fields, ensuring proper data translation.
   • For example, map CdtrNm to Vendor.DisplayName and PmtAmt to Txn.TxnTaxDetail.TotalAmt.
3. Message Transmission: FedNow RfP messages are transmitted and received securely via SecureQBPlugin, which parses the data and inputs it into the QuickBooks system.
4. Reconciliation: Upon payment receipt, the FedNow transaction can be marked as paid in QuickBooks, with automatic reconciliation enabled through SecureQBPlugin.
5. Invoice Generation and Sync: The plugin creates or updates invoices and transactions in QuickBooks based on the RfP data, ensuring that all records remain synced.

This specification format ensures that the essential fields from the FedNow Request for Payment message are mapped accurately into QBO using SecureQBPlugin.com. The plugin serves as a bridge to ensure smooth data synchronization between QuickBooks and FedNow in real-time payment scenarios.

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 or Nickname, Alias 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) We add a URI for each separate Payer transaction. Using URI, per transaction, will identify and reconcile your Accounts Receivable.

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.

Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.

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Start using our FedNow Real-Time Payments Bank Reconciliation:

 Dynamic integrated with FedNow & Real-Time Payments (RtP) Bank Reconciliation: Accrual / Cash / QBO - Undeposited Funds