Tuesday, August 25, 2015
Microsoft Dynamics GP Safe Pay
Posted by Steve Chapman
Microsoft Dynamics GP Safe Pay is functionality that creates a file in conjunction with the Payables Management payment processing function that you can send to your bank to take advantage of the positive pay service that many banks offer. The positive pay service compares all checks being presented for payment from your account, to the Safe Pay file you send your bank. If there is not a match the check does not get paid.
This adds another level of security over your payment processing function to reduce the chance of fraudulent checks being paid from your accounts.
The setup is fairly easy to do. You can utilize the Safe Pay Configurator screen to format the Dynamics GP output information to your bank’s required file format. The Safe Pay screens are located in the Financial > Routines area.
The image below shows the Configurator screen set up to match a bank file. In this case there are four different transaction types, with six to seven fields for each record.
It may take some time to get the configuration set up correctly, so I recommend setting it up in a test company first and then, importing it into your production company database. The Export/Import buttons are at the top of the Configurator page.
One small additional step I recommend is to set up some additional information about your bank in the Safe Pay Bank Link Maintenance screen (as shown in the image below).
To generate a GP Safe Pay file, you merely process a Payables Management payment batch, and then go to the Safe Pay Transactions Upload screen and complete the upload process there. You can send the file to your bank in the manner that your bank requests.
This is an example of what the file looks like:
Using GP Safe Pay and your bank’s positive pay service will help make your payment processing more secure. Check out this demonstration video to see the Safe Pay process in action.
Steve has over 15 years of experience in business systems consulting, and 20 years of experience in management accounting and finance with small and mid-sized businesses in the construction, distribution, service, and technology industries.