Financial Management - PSFT (MOSC)

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Ad hoc positive pay file to communicate voids to bank

edited Jan 19, 2015 10:02AM in Financial Management - PSFT (MOSC) 2 commentsAnswered

In our AP system, the check info is sent to bank in a Positive pay file as soon as it is issued.

However, when a check is voided, the void is sent in the Positive pay file the next time the pay cycle is run (for the next batch of payments. And this gets to the point of generate file only if payments exist for the paycycle)

In this procedure, there is the danger that the same paycycle is not run immediately during which time the bank assumes that the check is to be cashed.

Is there a way to create a positive pay file for the bank with just the void information as soon as it is done in our system??

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