Improve your fraud-prevention processes with this eBanking Extender App for Microsoft Dynamics 365 Finance. The Dynamics 365 Finance standard NACHA and positive pay file formats do not meet the requirements of all banks in terms of file structure. For the banks to process the NACHA and positive pay files, the file format in D365 Finance must be modified according to the bank specifications.
What “is” NACHA and Positive Pay?
NACHA file format is one of the most popular types of payment files. A NACHA file allows to execute domestic ACH payments through the Automated Clearing House Network. NACHA file looks like a payment instruction file. It gets sent or uploaded to a bank portal to execute a mass payment batch.
Positive pay is a form of treasury management that works to identify altered checks and prevent check fraud. It stops criminals from cashing fraudulent checks using stolen bank account numbers. It will also catch any bad check information where the amount or date has been altered.