The Positive Pay module helps prevent check fraud.
It is an automated way to quickly perform secure bank reconciliations.
How it works: Set up Positive Pay to generate an electronic list of checks from your business in ABECAS Insight. You provide this record to your bank via the ABECAS Insight Positive Pay Interface. The process can be further automated using the ABECAS Insight Task Agent.
When a check is presented to your bank, the bank compares it with the list of checks you provided and their expected amounts. If the check matches a check in the list for the same amount, your bank clears it. Otherwise, it will alert you of potential fraud so you can take action.
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