Microsoft Dynamics GP 2016 R2: Safe Pay file pull the CHECK NAME on actual check not from Vendor Master

This blog outlines the Vendor Name format change for Safe Pay functionality that was introduced in Dynamics GP 2016 R2.

This change should make it easier to track vendor payments if the Vendor Check Name differs from the standard name associated with a Vendor ID. 

Safe Pay is the Dynamics GP terminology for “Positive Pay” functionality. This process enables a business to create a file outlining their upcoming payments in order to send to the bank for pre-review. The bank is then able verify the file content against the associated financial account data and content (payee name, payment amount, etc.) to ensure that it contains valid payment information for processing. If it does not, the bank can refuse the check(s) and notify the business of the determination.

Prior to the Dynamics GP 2016 R2 release the resulting Safe Pay ACH file would contain the Vendor ID name in full when configured to display the Vendor name on the detail payment line.

For example, 'A Travel Company' is the Vendor Name listed in the following Safe Pay file:

This may have caused some confusion if the Check Name on the Vendor Maintenance card differed from the Name field on for the Vendor ID in question.

For instance, a company may need to make out a check to a Payee name differing from the Vendor Name for a variety of reasons (fit on check stock, Vendor request, etc.).

The 'Check Name' field in the Vendor Maintenance card will hold the name format that will print on the physical check generated in Dynamics GP ('ATC' in this example):

Starting with Dynamics GP 2016 R2, the Safe Pay ACH file will now display the Check Name so it will match with Payee Name printed on the check:

This pro-active ACH change in the product should help the end user avoid unnecessary back-and-forth with the bank when the Safe Pay file is being reviewed and help streamline the overall check disbursement process for the company.

Click HERE for more detailed documentation for Dynamics GP 2016 R2 features.
Dynamics GP 2016 R2 feature VIDEO click HERE!

Be sure to check back to the Microsoft Dynamics GP 2016 R2 Feature Blog Series Schedule page to review posted blog articles and upcoming blog posts to help you gear up for What's New in Microsoft Dynamics GP 2016 R2 with great content, documentation, and videos.

Thanks!
Jeff