QuickBooks® Create RfP File

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Request for Payments

To create a FedNow Instant and Real-Time Payments (RTP) Request for Payment (RfP) file from QuickBooks Online (QBO) before uploading it to your business bank, you need to follow these steps:

Step 1: Export Invoices from QuickBooks Online (QBO)

Start by exporting the necessary invoice data from QBO, which will be used to generate the Request for Payment (RfP) file.

a) Log in to QuickBooks Online (QBO):

1. Navigate to the Sales/Invoices Section: Once logged in, go to the Sales or Invoices section.
2. Select Invoices to Export: Choose the invoices for which you want to generate a Request for Payment.
3. Export Data:
   • Click Export and choose the CSV format.
   • The exported data will typically include the following fields:
     • Invoice Number
     • Payee Details (Name, Account Number, Routing Number)
     • Payer Details (Customer Name, Account Number, Routing Number)
     • Amount, Currency
     • Invoice Due Date
     • Invoice Reference

Example Exported CSV Format:

csv

InvoiceNumber,PayeeName,PayeeAccount,PayeeRouting,PayerName,PayerAccount,PayerRouting,Amount,Currency,DueDate,InvoiceRef

INV-1001,ABC Corp,123456789,987654321,John Doe,987654321,123456789,500.00,USD,2024-10-01,INV-1001

INV-1002,XYZ LLC,2233445566,654321987,Jane Smith,1122334455,321654987,300.00,USD,2024-09-25,INV-1002

Step 2: Prepare RfP File in XML (ISO 20022 Format)

FedNow and RTP require the ISO 20022 XML format for Request for Payments. Now that you have exported the relevant data from QuickBooks, the next step is to convert that data into an XML format.

Example XML Format for RfP:

Here’s how you can format your Request for Payment (RfP) data into ISO 20022 XML format:

xml

<?xml version="1.0" encoding="UTF-8"?>

<Document xmlns="urn:iso:std:iso:20022:tech:xsd:pain.013.001.07">

  <ReqForPaymt>

    <PayeeInfo>

      <Name>ABC Corp</Name>

      <AcctNumber>123456789</AcctNumber>

      <RoutingNumber>987654321</RoutingNumber>

    </PayeeInfo>

    <PayerInfo>

      <Name>John Doe</Name>

      <AcctNumber>987654321</AcctNumber>

      <RoutingNumber>123456789</RoutingNumber>

    </PayerInfo>

    <PaymentInfo>

      <Amount>500.00</Amount>

      <Currency>USD</Currency>

      <DueDate>2024-10-01</DueDate>

      <InvoiceRef>INV-1001</InvoiceRef>

    </PaymentInfo>

  </ReqForPaymt>

</Document>

Step 3: Automate XML File Creation Using Python (Optional)

To automate the creation of XML files from the CSV data exported from QuickBooks Online, you can use a Python script to generate ISO 20022 XML files.

Python Script to Convert CSV to XML:

python

import pandas as pd

import xml.etree.ElementTree as ET

 

# Load the CSV exported from QuickBooks Online

data = pd.read_csv('quickbooks_invoices.csv')

 

# Function to create an XML file for each RfP

def create_rfp_xml(row):

    root = ET.Element("Document", xmlns="urn:iso:std:iso:20022:tech:xsd:pain.013.001.07")

    rfp = ET.SubElement(root, "ReqForPaymt")

 

    # Payee Information

    payee = ET.SubElement(rfp, "PayeeInfo")

    ET.SubElement(payee, "Name").text = row['PayeeName']

    ET.SubElement(payee, "AcctNumber").text = str(row['PayeeAccount'])

    ET.SubElement(payee, "RoutingNumber").text = str(row['PayeeRouting'])

 

    # Payer Information

    payer = ET.SubElement(rfp, "PayerInfo")

    ET.SubElement(payer, "Name").text = row['PayerName']

    ET.SubElement(payer, "AcctNumber").text = str(row['PayerAccount'])

    ET.SubElement(payer, "RoutingNumber").text = str(row['PayerRouting'])

 

    # Payment Information

    payment = ET.SubElement(rfp, "PaymentInfo")

    ET.SubElement(payment, "Amount").text = str(row['Amount'])

    ET.SubElement(payment, "Currency").text = row['Currency']

    ET.SubElement(payment, "DueDate").text = row['DueDate']

    ET.SubElement(payment, "InvoiceRef").text = row['InvoiceRef']

 

    # Create an ElementTree object and save the XML to a file

    tree = ET.ElementTree(root)

    tree.write(f'rfp_{row["InvoiceRef"]}.xml')

 

# Generate XML files for each invoice

for _, row in data.iterrows():

    create_rfp_xml(row)

This script reads the exported CSV file, converts each row into an XML structure, and saves the XML file for each invoice.

Step 4: Validate the RfP File

Before uploading the file to your bank, validate that it conforms to the ISO 20022 standards. This will help avoid errors during the submission.

a) XML Validation Tools:

You can use any online XML validator to check for errors or inconsistencies in the file’s structure. Some banks also provide validation tools for testing the file before uploading.

Step 5: Upload the RfP File to Your Business Bank’s Dashboard

Once the RfP file is ready and validated, follow these steps to upload it to your bank’s dashboard:

a) Log in to Your Bank’s Business Dashboard:

1. Access your bank’s online platform: Use your business credentials to log in.
2. Navigate to the Payments Section: Locate the section for FedNow or Real-Time Payments (RTP). It might be labeled as Request for Payments (RfP), Batch Upload, or similar.

b) Upload the RfP File:

1. Select Batch Upload: Look for an option to upload files in bulk.
2. Choose the File: Select the XML file(s) you generated from QuickBooks data.
3. Review the Details: Preview the data to ensure it’s accurate.
4. Submit the RfP File: After reviewing, submit the RfP file for processing.

Step 6: Monitor and Reconcile Payments

Once you have uploaded the file:

1. Monitor Payment Status: Your bank’s dashboard will provide real-time status updates, such as Pending, Approved, or Rejected.
2. Receive Real-Time Notifications: Both the payer and the payee will receive real-time notifications once the payment is processed and settled.
3. Reconcile Payments in QuickBooks: Mark the relevant invoices as Paid in QuickBooks Online once the payments are confirmed.

Key Considerations:

• Data Accuracy: Ensure that all data, including account numbers, routing numbers, amounts, and due dates, is accurate.
• File Format Compliance: Use the correct ISO 20022 XML format, as required by FedNow and RTP.
• Security: Always use secure methods for uploading and transmitting sensitive financial data.
• Batch Limits: Verify with your bank if there are any limits on batch uploads (number of transactions or file size).

Conclusion

By following this guide, you can efficiently create a Request for Payment (RfP) file from QuickBooks Online (QBO) and upload it into your business bank for FedNow and Real-Time Payments (RTP) processing. This will enable real-time payment requests and improve your business’s cash flow efficiency.

Call us, the .csv 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. Create Multiple Templates. Payer/Customer Routing Transit and Deposit Account Number may be required to import with your bank. You can upload or "key data" into our software for File Creation of "Mandatory" general file.

Fees = $57 monthly, including Support Fees and Batch Fee, Monthly Fee, User Fee, Additional Payment Method 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) Payer Routing Transit and Deposit Account Number is NOT required to import with your bank. We add your URI for each separate Payer transaction.

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.