Positive Pay - Sandler*Kahne Software, Inc.

IntroductionFeaturesThe Accounts Payable-EFT (with Positive Pay) Module provides electronicfunds transfer of your MBS - Solomon vendors’ checks - directly to thevendor’s bank account. The Positive Pay feature provides a file of computerchecks that your bank uses to validate checks for paying. Positive Pay isincluded (at no charge) when AP EFT is licensed or Positive Pay can belicensed without EFT.EFT Features• For use in US - a standard NACHA (National Automated Clearing HouseAssociation) file format is created.• For use outside of US – any format can be supported (more are being addedeach month).• Automatic Email notification of vendors – upon transmission of the EFT file.SMTP, ESMTP mail transmission and SSL connections are supported.• Full Multi-Company support – both in one database and in separatedatabases.• Vendor banking information is set up once.• Does not use an intermediary clearinghouse - transmits directly to your bank.• No per check transaction costs.• Multiple company checking accounts can be maintained.• For use in US - Four ACH Entry Classes are currently supported(maintained by vendor):1. PPD (Prearranged Payment and Deposit) - employee expensereimbursement2. CCD (Cash Concentration and Disbursement) - corporate payments3. CCD+ - corporate payments with additional EDI information4. CCD+ - tax payments.• For use outside of US – Country specific Payment Codes are fully supported.A/P Electronic Funds Transfer w/ Positive Pay Introduction • 1