<< Click to Display Table of Contents >> Navigation:  Bank Reconciliation > Processing Positive Pay

 

Positive pay is a relatively new service offered by banks to help protect consumers from check fraud.  With advances in technology come the greater risk that a company or person's checking information may be illegally obtained by dishonest individuals who will then use the information to draw up checks against their unwary victims' bank accounts.  Banks offer a service which allows their customers to generate a document identifying the checks which are authorized for payment.  Any checks which do not match the information in the list will not be honored under the terms of this service.

 

AccountMate provides users the means to set up their bank account records for positive pay.  You must perform the following procedures to use this feature:

 

•Define Bank Account Positive Pay Parameters

•Generate Positive Pay

•Regenerate Positive Pay

 

 

 

See Also

Positive Pay Report

 

 

 

 

 

© 2023 AccountMate Software Corporation