QuickBooks ^® RfP Request for Payment API

• ~ 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

Integrating FedNow Instant Payments and Real-Time Payments (RTP) Request for Payment using the ISO 20022 format into QuickBooks Online (QBO) via SecureQBPlugin involves a few essential steps. Below is a detailed guide to integrate these instant payment services into QBO, using the ISO 20022 format with SecureQBPlugin.

Step-by-Step Guide for Integration

1. Understanding the File Format: ISO 20022 for FedNow and RTP

ISO 20022 is a messaging standard used for electronic data exchange between financial institutions. In the context of FedNow and RTP, the Request for Payment (RfP) message format is used to facilitate instant payments. For example:

• Pain.013 for Request for Payment.
• Pac.008 for Instant Payments (Credit Transfer).

These file formats are XML-based and require adherence to the ISO 20022 schemas.

2. Set Up the SecureQBPlugin

SecureQBPlugin acts as the intermediary between your FedNow/RTP payment requests and QuickBooks Online. It can map the ISO 20022 XML messages to the appropriate data structure within QBO.

Installation Steps:

• Visit SecureQBPlugin.com and download the plugin.
• Follow the installation steps provided by the platform, which includes connecting the plugin to your QuickBooks Online account.

3. Preparing ISO 20022 File Formats (Pain.013 or Pac.008)

Before importing the files into QBO, you need to have the appropriate ISO 20022 XML format for the FedNow or RTP payments. Below is an example structure for both message types.

Example of Request for Payment (Pain.013):

xml

<Document>

   <CstmrCdtTrfInitn>

      <GrpHdr>

         <MsgId>PAYMENT123</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>Jane Doe</Nm>

            <PstlAdr>

               <Ctry>US</Ctry>

               <AdrLine>123 Payment St</AdrLine>

            </PstlAdr>

         </Dbtr>

         <DbtrAcct>

            <Id>

               <IBAN>US123456789</IBAN>

            </Id>

         </DbtrAcct>

         <Cdtr>

            <Nm>ABC Company</Nm>

         </Cdtr>

         <CdtrAcct>

            <Id>

               <IBAN>US987654321</IBAN>

            </Id>

         </CdtrAcct>

         <RmtInf>

            <Ustrd>Invoice #123</Ustrd>

         </RmtInf>

      </PmtInf>

   </CstmrCdtTrfInitn>

</Document>

Example of Credit Transfer (Pac.008 for FedNow Instant Payment):

xml

<Document>

   <FIToFICstmrCdtTrf>

      <GrpHdr>

         <MsgId>TRANSFER123</MsgId>

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

      </GrpHdr>

      <CdtTrfTxInf>

         <PmtId>

            <InstrId>INSTR123</InstrId>

            <EndToEndId>END123</EndToEndId>

         </PmtId>

         <Dbtr>

            <Nm>John Doe</Nm>

         </Dbtr>

         <DbtrAcct>

            <Id>

               <IBAN>US123456789</IBAN>

            </Id>

         </DbtrAcct>

         <Cdtr>

            <Nm>ABC Corp</Nm>

         </Cdtr>

         <CdtrAcct>

            <Id>

               <IBAN>US987654321</IBAN>

            </Id>

         </CdtrAcct>

         <RmtInf>

            <Ustrd>Invoice Payment</Ustrd>

         </RmtInf>

      </CdtTrfTxInf>

   </FIToFICstmrCdtTrf>

</Document>

These XML files represent a request for payment or an instant credit transfer.

4. Using SecureQBPlugin to Import ISO 20022 Files into QBO

Once you have the ISO 20022 files ready (e.g., Pain.013 for Request for Payment or Pac.008 for credit transfers), use SecureQBPlugin to import these into QuickBooks Online.

Steps to Import:

• Open the SecureQBPlugin and connect it to your QuickBooks Online account.
• Use the file import feature in SecureQBPlugin to upload your ISO 20022 XML file.
• The plugin will map the data fields from the ISO 20022 format to the relevant QuickBooks fields such as:
  • Debtor Name (Customer in QBO),
  • Creditor Name (Vendor in QBO),
  • Transaction Amount,
  • Invoice Number (if remittance information is provided),
  • Transaction Date.
• The plugin ensures that the payment request or transaction data is imported into QBO in a format that QuickBooks can understand.

5. Mapping ISO 20022 Fields to QBO

During the import process, SecureQBPlugin will need to map the ISO 20022 fields to QuickBooks Online fields. The plugin typically allows you to configure this mapping. Ensure that:

• Payment Details from the ISO 20022 message are mapped to the correct Expense Accounts or Customer Accounts in QuickBooks Online.
• Remittance Information (e.g., invoice numbers) is correctly associated with the invoices in QBO.
• Payment Amounts are accurately recorded in QuickBooks.

6. Review the Imported Data

After importing the ISO 20022 file using SecureQBPlugin, log into your QuickBooks Online account to review the data:

• Ensure that the payments, customer information, and remittance details are correct.
• Cross-check the imported data with your FedNow or RTP transaction records.

7. Automation and Scheduling

SecureQBPlugin may offer features to automate the import of ISO 20022 files. If you have recurring payments or request for payments, you can schedule these imports for efficiency.

8. Compliance and Security

• Ensure that your ISO 20022 messages adhere to the compliance standards set by your financial institution for FedNow or RTP payments.
• Ensure secure data transfer using encrypted channels (e.g., TLS) when interacting with APIs or importing payment files.
• Always review security settings in SecureQBPlugin and QBO to protect sensitive financial information.

Final Considerations

Integrating FedNow and RTP instant payments into QuickBooks Online using ISO 20022 through SecureQBPlugin offers a standardized and efficient way to manage real-time payments. This process can be automated and tailored to suit various payment workflows. The combination of SecureQBPlugin and ISO 20022 messaging ensures smooth integration and accurate financial tracking within QBO.

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.