QuickBooks^® Request for Payment Invoicing

• ~ Automate Account Receivable Collection
• ~ Automate Account Payable Payments
• ~ One-time and Recurring Debits / Credits

Secure QB Plugin payment processing through QuickBooks ^® specializes in the origination of moving money electronically.

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Request for Payments

Using QBO Payroll with FedNow Service or Real-Time Payments (RTP) for On-Demand Pay and Earned Wage Access

Implementing On-Demand Pay using QBO Payroll integrated with FedNow Service or Real-Time Payments (RTP) allows employees to access their earned wages immediately. This system offers a range of features and benefits for both employers and employees:

Features

1. Immediate Wage Access:
   • Employees can access their earned wages instantly via QBO Payroll, rather than waiting for the regular pay cycle.
2. 24/7 Availability:
   • Employees can request and receive payments at any time, including weekends and holidays, ensuring continuous availability.
3. Real-Time Payment Processing:
   • Payments are processed and settled in real-time through FedNow or RTP, ensuring that funds are available to employees immediately.
4. Seamless Integration with QBO Payroll:
   • Full integration with QuickBooks Online (QBO) Payroll for automatic tracking, categorization, and reconciliation of wage payments.
5. Enhanced Security:
   • Robust security measures to protect against fraud and unauthorized transactions, ensuring the safety and security of all payments.
6. Customizable Access Limits:
   • Employers can set access limits and rules, such as daily or weekly withdrawal caps, to manage the flow of funds effectively.

Benefits

1. Increased Employee Satisfaction:
   • Immediate access to earned wages can significantly enhance employee satisfaction and financial well-being, reducing financial stress.
2. Improved Employee Retention:
   • Offering on-demand pay as a benefit can improve employee retention and attract top talent, showing a commitment to employee welfare.
3. Better Cash Flow Management for Employees:
   • Employees can manage their cash flow better and meet unexpected expenses without relying on high-interest loans or credit.
4. Operational Efficiency:
   • Integration with QBO Payroll automates the on-demand pay process, reducing the administrative burden on HR and payroll departments.
5. Enhanced Productivity:
   • Reduced financial stress leads to increased employee productivity and engagement in their work.
6. Compliance and Transparency:
   • Ensures compliance with wage and hour regulations while providing transparent records of wage access and payments.
7. Cost Savings:
   • Reduces the need for payroll advances and short-term loans, which can save money for both employees and employers in the long term.
8. Competitive Advantage:
   • Offering on-demand pay can differentiate an employer from competitors, making it an attractive workplace for potential employees.

Applications

1. Regular Wages:
   • Employees can access a portion of their regular wages as they earn them, rather than waiting for the traditional payday.
2. Overtime and Bonuses:
   • Immediate access to overtime pay and bonuses as soon as they are earned, providing additional financial flexibility for employees.
3. Contract and Gig Workers:
   • Ideal for contract and gig workers who often require more flexible payment schedules to manage their finances effectively.
4. Emergency Funds:
   • Provides employees with immediate access to funds in case of emergencies, without having to rely on external financial aid.

Conclusion

Using QBO Payroll with FedNow Service or Real-Time Payments (RTP) for On-Demand Pay and Earned Wage Access offers a modern solution for payroll management. This system ensures immediate access to earned wages, enhancing employee satisfaction, financial well-being, and productivity. By integrating with QBO Payroll, businesses can streamline payroll processes, reduce administrative burdens, and maintain accurate financial records. This capability provides a significant competitive advantage, helping attract and retain top talent while demonstrating a commitment to employee welfare.

 

Call us, the .csv, text messaging and or .xml Request for Payment (RfP) file you need while on your 1st phone call! We guarantee our reports work to your Bank and Credit Union. We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-Time Payments to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. U.S. Companies need help to learn the RfP message delivering their bank. Today Payments' ISO 20022 Payment Initiation (PAIN .013) show how to implement Create Real-Time Payments Request for Payment File up front delivering message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continuing through a "Payment Hub", will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank.

Our in-house QuickBooks payments experts are standing ready to help you make an informed decision to move your company's payment processing forward.

 1) Free ISO 20022 Request for Payment File Formats, for FedNow and Real-Time Payments (The Clearing House) .pdf for you manually create "Mandatory" (Mandatory data for completed file) fields, start at page 4, with "yellow" highlighting. $0.0 + No Support

2) We create .csv or .xml formatting using your Bank or Credit Union. Using your invoice information database to create an existing Accounts Receivable file, we CLEAN, FORMAT to FEDNOW or Real-Time Payments into CSV or XML. Create Multiple Templates. You can upload or "key data" into our software for File Creation of "Mandatory" general file. Use either the Routing Number and Account Number for your Customers or use "Alias" name via Mobile Cell Phone and / or Email address.

Fees = $57 monthly, including Activation, Support Fees and Batch Fee, Monthly Fee, User Fee. We add your URI for each separate Payer transaction for additional Payment Methods on "Hosted Payment Page" (Request for file with an HTML link per transaction to "Hosted Payment Page" with ancillary payment methods of FedNow, RTP, ACH, Cards and many more!) + $.03 per Transaction + 1% percentage on gross dollar file,

3) Add integrating QuickBooks Online "QBO" using FedNow Real-time Payment using our On-Demand Pay system.

Fees Above 2) plus $29 monthly additional QuickBooks Online "QBO" formatting, and "Hosted Payment Page" and WYSIWYG

4) Above 3) plus Create "Total" (over 600 Mandatory, Conditional & Optional fields of all ISO 20022 Pain .013) Price on quote.