QuickBooks ® FedNow RfP Message Format Invoicing

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To integrate a FedNow Request for Payment (RfP) message with QuickBooks Online (QBO) using SecureQBPlugin.com and maintain compliance with ISO 20022 XML, we’ll create an end-to-end message structure that spans from customer notification (via text, smartphone, and email) to backend processing through QBO, utilizing the SecureQBPlugin for API integration. Below is the structure, considering the different formats involved.

1. Overview

The FedNow RfP message will notify a payer (customer) of a payment request via texting, smartphone notification, and email, while simultaneously pushing the transaction data to QuickBooks Online (QBO) using the SecureQBPlugin for automated invoicing and bookkeeping. The final payment request is sent via the ISO 20022 XML standard for payment processing through the FedNow system.

2. General Structure of an RfP Message

• Payee Details
  • Name
  • Contact information (email, phone)
  • Bank details (optional)
• Payment Request Details
  • Amount to be paid
  • Purpose or reason for payment
  • Invoice number or reference number
  • Due date
• Payer Details
  • Name
  • Payment method link (integrated with SecureQBPlugin to QuickBooks)
• SecureQBPlugin Integration
  • Trigger event in QBO (generate or update invoice, record payment)

3. Communication Components

a. Texting (SMS)

A brief SMS message will inform the payer of the payment request:

[Payee Name] requests a payment of [$Amount] for [Purpose/Invoice #12345].

Please respond via: [Payment URL linked to SecureQBPlugin]

Due by: [MM/DD/YYYY]

Example:

John Doe requests a payment of $250 for Invoice #56789.

Pay securely using this link: https://secureqbplugin.com/pay12345

Due by: 10/05/2024.

b. Smartphone Notification

Smartphone notifications can include slightly more details with a direct payment action:

Notification Example:

Title: Payment Request from [Payee Name]

Body: You have a payment request of [$Amount] for [Purpose/Invoice #12345].

Due by: [MM/DD/YYYY].

Pay now via: [Payment URL linked to SecureQBPlugin]

The payment link will connect the payer to a payment portal that integrates with QuickBooks Online through SecureQBPlugin, allowing the invoice data to be automatically updated once the payment is made.

c. Email Message

Email offers more flexibility to include detailed information:

Subject: Payment Request from [Payee Name] – Invoice #[Invoice Number]

Body:

Dear [Payer Name],

You have received a payment request from [Payee Name] for the following details:

- Amount: [$Amount]

- Purpose: [Purpose or Service Description]

- Invoice Reference: #[Invoice Number]

- Due Date: [MM/DD/YYYY]

To complete your payment, please use the secure link below:

[Payment URL linked to SecureQBPlugin]

Upon payment, your QuickBooks invoice will be automatically updated.

Thank you, 

[Payee Name] 

Contact Info: [Payee Contact Information]

4. ISO 20022 XML Format for FedNow RfP Message

This is the formal message format following ISO 20022 XML standards, integrating with the FedNow system for real-time payment processing. Once the payment is triggered via SecureQBPlugin and confirmed, this XML message is sent to the FedNow system to complete the transaction.

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

  <ReqForPay>

    <GrpHdr>

      <MsgId>RFPM-98765</MsgId>

      <CreDtTm>2024-10-01T10:00:00</CreDtTm>

      <InitgPty>

        <Nm>John Doe</Nm>

        <Id>

          <OrgId>

            <Othr>

              <Id>1234567890</Id>

            </Othr>

          </OrgId>

        </Id>

      </InitgPty>

    </GrpHdr>

    <PmtReqInf>

      <ReqdExctnDt>2024-10-05</ReqdExctnDt>

      <PmtInfId>INV-56789</PmtInfId>

      <PmtMtd>TRF</PmtMtd>

      <Amt>

        <InstdAmt Ccy="USD">250.00</InstdAmt>

      </Amt>

      <Dbtr>

        <Nm>Jane Smith</Nm>

        <Acct>

          <Id>

            <Othr>

              <Id>987654321</Id>

            </Othr>

          </Id>

        </Acct>

      </Dbtr>

      <Cdtr>

        <Nm>John Doe</Nm>

        <PstlAdr>

          <StrtNm>Main Street</StrtNm>

          <BldgNb>123</BldgNb>

          <TwnNm>Anytown</TwnNm>

          <Ctry>US</Ctry>

        </PstlAdr>

        <Acct>

          <Id>

            <Othr>

              <Id>123456789</Id>

            </Othr>

          </Id>

        </Acct>

      </Cdtr>

      <RmtInf>

        <Strd>

          <RfrdDocInf>

            <Tp>

              <CdOrPrtry>

                <Cd>INV</Cd>

              </CdOrPrtry>

            </Tp>

            <Nb>56789</Nb>

          </RfrdDocInf>

          <RfrdDocAmt>

            <DuePyblAmt Ccy="USD">250.00</DuePyblAmt>

          </RfrdDocAmt>

        </Strd>

      </RmtInf>

    </PmtReqInf>

  </ReqForPay>

</Document>

Explanation of Key Elements:

• <GrpHdr>: Group header contains the message ID and creation date-time.
• <InitgPty>: The initiating party or payee (John Doe) requesting payment.
• <PmtReqInf>: Payment request information including payment method (TRF for transfer), amount, and payer (Jane Smith) details.
• <Cdtr> and <Dbtr>: Creditor (payee) and debtor (payer) details, including name and account information.
• <RmtInf>: Remittance information, such as the invoice reference (INV-56789) and the amount due ($250).

5. Integration with QuickBooks Online via SecureQBPlugin

To ensure that the RfP integrates into QuickBooks Online, follow these steps:

1. Create a Payment Request: When the payment request is sent via text, smartphone, or email, use a SecureQBPlugin link that connects to the payment portal, which interacts with QuickBooks Online.
2. Automated Invoice Creation/Update: SecureQBPlugin automates the process of creating or updating an invoice within QuickBooks once the payer clicks the payment link and completes the payment.
3. Payment Recording: After the payment is processed via FedNow, QuickBooks Online automatically updates the invoice status as "Paid" via SecureQBPlugin’s integration.
4. Data Sync: All payment and invoice information is synced between QuickBooks Online, SecureQBPlugin, and FedNow for real-time tracking.

Conclusion

This end-to-end process for a FedNow Request for Payment (RfP) integrates real-time payments with QuickBooks Online using SecureQBPlugin.com. The payer is notified via multiple channels, and the ISO 20022 XML format ensures compliance with FedNow standards for final payment processing. By integrating with QBO, all transactions are automatically recorded and tracked.