In today’s security conscious world, you need to do everything you can to protect your business from fraud.
You lock down your systems, train your employees and implement internal and external checks and balances. But how do you proactively protect against fraud that targets your bank accounts? The answer is simple: Implement and start utilizing Microsoft Dynamics GP SafePay.
What is Dynamics GP SafePay?
Dynamics GP SafePay is available on GP 2010 and later versions. It works with your bank’s Positive Pay program to prevent fraudulent checks and EFT transactions from clearing your accounts. When a check or EFT transaction is presented to your bank for payment, the bank compares the account number, check number and dollar amount to the SafePay generated list to verify it is authorized. If it’s not on the list, then the payment request is rejected. And here’s the best part: as of GP 2013, SafePay is included in the Starter Pack, so you may already own it.
How to get started with Dynamics GP SafePay
While you may already own the necessary software to take advantage of Dynamics GP SafePay, there are a few steps to getting up and running.
1. Contact your bank. The first step to getting started with SafePay is contacting your bank to enroll in their Positive Pay program. As part of the enrollment, you will be given the format requirements for the SafePay output file that will be uploaded to your bank after each payables run. Note: There isn’t an industry standard configuration so you will need the format requirements for your specific bank.
2. Set up the SafePay Configurator. Once you have the format requirements, you can configure the output file with SafePay Configurator. Setting up the configuration file can be a lengthy process, but don’t worry once completed, configurations can be copied across all of your GP companies. Also, you can create multiple output file configurations to use SafePay with all of your banks. Click here for detailed instructions on SafePay Configurator.
3. Achieve bank verification. Now that the configuration is complete, you will generate a SafePay output file containing one or two transactions and upload it to the bank’s Positive Pay system for validation. The bank will verify the data format meets their requirements. If the file is rejected, you will need to make tweaks to the SafePay configuration and resubmit the file. Issues with the output file configuration are typically resolved within a couple iterations.
4. Integrate SafePay as part of the AP process. The last step is to include SafePay as part of your AP process. Once checks and EFT payments are completed, you will use SafePay to generate the output file that lists all the transactions from that check run. You can then upload the file to your bank’s Positive Pay system manually, or automatically use Enavate’s automation process; see below for details. Note: SafePay must be installed on all workstations that are entering or voiding checks/EFT transactions for voids to be properly recognized.
Typically, companies can roll out SafePay in a couple of weeks. Working with a Microsoft Gold Partner like Enavate makes this process even simpler because we manage all aspects of configuration, testing, training and support.
Enavate’s distinctive automation process
The automation process is a custom Microsoft Windows service that runs continuously and monitors folders either for all files or specific files such as .CSV or .TXT. The service can be configured to monitor one folder or multiple folders, as well as folders across the network with Universal Naming Convention (UNC) paths. The service can be configured to enable or disable certain aspects and configured to upload or download from one or more file transfer servers.
Email notification is a feature of Enavate’s SFTP Windows service that sends an email notification to one or more personnel indicating whether the file was uploaded or downloaded successfully.
Some facilities have file naming conventions that do not conform to the program that created the file. The SFTP Windows service can rename the file it uploads or downloads. Enavate has several options to rename the file with a date and time stamp, remove the file extension or simply use a static file name.
Dynamics GP SafePay helps you make a proactive change to protect against bank account fraud and now you are ready to get started! If you have questions or want to learn more about Enavate’s distinctive automation process contact us today.
About the Author
Melissa Grover is a Senior Solutions consultant for Enavate Managed Services, a DXC Services Partner. She has over 20 years supporting ERP solutions for small to medium range companies with a primary focus on Microsoft Dynamics software. She has strong organizational, technical and troubleshooting skills. She enjoys running, hiking and spending time with family and friends.