QBO QuickBooks ^® Create FedNow File

To create a FedNow .csv file and upload it into your bank's dashboard using SecureQBPlugin.com integrated with QuickBooks Online (QBO), follow these steps:

Step 1: Setup SecureQBPlugin with QuickBooks Online

1. Install SecureQBPlugin:

• Go to SecureQBPlugin.com and download the plugin.
• Follow the installation instructions to integrate it with your QuickBooks Online account.

2. Configure the Plugin:

• Open the plugin and log in using your QuickBooks Online credentials.
• Set up the necessary configurations to enable data extraction.

Step 2: Export Payment Data from QBO using SecureQBPlugin

1. Access Payment Data:

• Open SecureQBPlugin and navigate to the section where you can access transaction data.
• Choose the type of transactions you need (e.g., customer payments, vendor payments).

2. Select the Date Range and Transaction Type:

• Filter the transactions by date range and select the specific type of payments you need for FedNow.

3. Export Data:

• Use the plugin to export the filtered payment data to an Excel file.
• The exported file will typically be in .xlsx format.

Step 3: Format Data for FedNow

1. Open Exported Excel File:

• Open the .xlsx file in Microsoft Excel or Google Sheets.

2. Fill in the Data:

• Verify that each row of payment data includes the necessary details:

• Payment Reference ID: Unique identifier for each transaction.
• Amount: The payment amount.
• Sender Account Number: Your business's bank account number.
• Receiver Account Number: Recipient’s bank account number.
• Receiver Routing Number: Recipient’s bank routing number.
• Payment Date: Date of the transaction in YYYY-MM-DD format.
• Payment Description: Brief description of the payment.

3. Example Data:

4. Save as CSV:

• Save the formatted file as a CSV.
• In Excel, click File > Save As, choose a location, select CSV (Comma delimited) (*.csv) from the dropdown menu, and save the file as FedNowPayments.csv.

Step 4: Validate the CSV File

1. Check CSV File:

• Open the CSV file in a text editor (e.g., Notepad) to ensure proper formatting.
• Ensure data fields are correctly separated by commas with no extra spaces or special characters.

Step 5: Upload CSV File to Your Bank’s Dashboard

1. Log in to Your Bank’s Online Portal.
2. Navigate to FedNow Section:

• This section might be under Payments, Transfers, or a specific FedNow section.

3. Upload the CSV File:

• Select the option to upload a CSV file.
• Choose the FedNowPayments.csv file from your computer and upload it.

4. Review and Submit:

• Review the uploaded data for accuracy.
• Submit the file for processing.

Tips for Success

• Regular Updates: Regularly update and validate your templates to ensure compliance with FedNow and your bank's requirements.
• Automation: Utilize automation features in SecureQBPlugin for regular exports and formatting.
• Bank-Specific Requirements: Check with your bank for any additional requirements or specific formats needed for FedNow payments.

By following these steps, you can efficiently create and upload a FedNow .csv file from QuickBooks Online using SecureQBPlugin, streamlining your payment processing operations.