Positive Pay (commonly called SafePay) functionality from Microsoft Dynamics AX 2012 allows for the transmission of an electronic file to the bank to provide a list of paper checks which have been approved for payment. The bank then adds this list of sanctioned checks to their master file. Positive Pay for Dynamics AX 2012 process ensures that checks which are fraudulent will not be paid. The functionality is available out-of-the-box and multiple electronic file types are supported.
Once the functionality has been set up, the user need only generate the file by selecting the file format, company, bank account and the cut-off date for the checks.
The positive pay file is then generated and submitted electronically to the bank. A simple inquiry can be run to view the Positive Pay files which have been generated and the details of each file.
If the file needs to be corrected, it can be recalled and re-submitted to the bank. If the bank sends a confirmation number to confirm that the file was received and processed, the confirmation number can be entered on the Positive Pay line.
With the latest release of AX 2012 R2 Cumulative Update 7, AX 2012 now offers separate Positive Pay statements for Payroll bank accounts.
This post was written by Robin Ellsworth, AX Application Consultant at Tridea Partners. Tridea is a Microsoft Dynamics AX partner serving Southern California, Utah, Colorado and surrounding regions.