How to Prevent Check Fraud with SafePay from Microsoft Dynamics GP

Posted on: July 17, 2020 | By: Sarah Han | Uncategorized

Check fraud is a very real risk to your business. Check payments continue to be the most common business-to-business payment method, but also the most vulnerable to fraud. According to the Association for Financial Professionals (AFP), in 2018, 70 percent of all U.S. organizations reported check fraud, with losses totaling more than $18 billion dollars.

But that doesn’t mean those losses are inevitable. Positive Pay and SafePay are two of the protection tools available to stop check fraud against your company. In this blog post, we’ll be discussing these tools to prevent check fraud and help you save valuable time and resources. Read on to learn more about how you can set them up and use our best resources to protect your company today.

 

What are Positive Pay and SafePay?

Positive Pay is a common banking service that limits your exposure to check fraud. Positive Pay is a fraud-prevention system offered by most commercial banks that will significantly reduce your company’s risk of check fraud. It will also protect you against counterfeit, altered and forged checks by matching a list of checks and data you send them via electronic file to the list of actual checks and data.

SafePay is a module included in Microsoft Dynamics GP that enables auto-collaboration with Positive Pay as well. SafePay is included with your existing license and provides the functionality to create the required electronic file of transactions required by your bank for their Positive Pay service. The file is automatically populated by your transactions entered over a given amount of time and formatted to your bank’s specifications.

 

 

Configuration and Setup Resources

While SafePay itself isn’t complicated, it can be a little time-consuming and tedious to set up. This isn’t a fault of the SafePay solution, but more a result of having to meet the many different requirements from bank to bank. We’ve collected the best links with the simplest step-by-step instructions on how you can start configuring SafePay in Microsoft Dynamics GP.

If you want the steps to set up the SafePay Configurator in Microsoft Dynamics GP: Click Here

If you’re having trouble with loading your checks to the SafePay Transactions Upload window in Microsoft Dynamics GP: Click Here

If you want to regenerate a SafePay upload file in Microsoft Dynamics GP: Click Here

 

The Most Common Questions About SafePay

Can credit memos be included?

No, only checks and voided checks can be included.

Can I just have checks included and not the voids?

Because the purpose is fraud prevention, it’s designed to send both checks and voids. The bank needs to know that the check was voided, so it cannot be cashed.

How do I get the “absolute value” of checks and voids in the footer line?

For Microsoft Dynamics GP 2010-2015, you must install the sptot11.cnk file.  In GP 2016 and later versions, you will have a Net Totals – Absolute Value option in the field list (no cnk file needed).

Can I have the file sent to the bank automatically?

Microsoft Dynamics GP doesn’t do this, but we provide a Communication Link field on the Safe Pay Bank Link Maintenance window. This is where you can send it to the .exe of any bank software, which would take over and grab the file. However, this is outside of Dynamics GP, so it is not supported by Microsoft.

 

Want to Learn More About SafePay and Microsoft Dynamics GP?

As a long-time partner of Microsoft Dynamics, we have the best consultants and knowledge available to help implement tools like SafePay to prevent check fraud against your company. Stop taking losses, and start saving time. Reach out to us to talk more about what Logan Consulting can do for you today.



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