RfP File Format

To import FedNow and Real-Time Payments (RTP) Request for Payment (RfP) messages using ISO 20022 in file formats such as CSV, XML, or JSON, you need to ensure that these formats adhere to the necessary structure for ISO 20022 messaging. Here's a step-by-step guide on how to approach this task for each file format:

1. ISO 20022 Overview for Request for Payment (RfP)

ISO 20022 defines a rich data format for financial messaging, and for FedNow and RTP, the Pain.013 message type is typically used for Request for Payment (RfP). The basic structure of the message includes:

• Debtor Information: The party sending the payment.
• Creditor Information: The party requesting the payment.
• Amount: The transaction amount.
• Remittance Information: Any additional data, such as invoice numbers.

2. Converting to ISO 20022 Format

Before importing these messages into a system like QuickBooks Online (QBO) via tools like SecureQBPlugin, the data must be properly structured. Below are the steps and examples for converting the formats.

3. Using CSV Format

A CSV file for FedNow and RTP Request for Payment should have specific headers and rows that represent the necessary data.

Example CSV:

csv

MsgId,CreationDateTime,DebtorName,DebtorIBAN,CreditorName,CreditorIBAN,Amount,Currency,InvoiceNumber

PAYMENT123,2024-09-15T12:34:56,John Doe,US123456789,ABC Corp,US987654321,1500.00,USD,INV-456

This CSV represents a payment request where:

• MsgId: Unique message identifier.
• CreationDateTime: Timestamp of the message.
• DebtorName: Name of the debtor (payer).
• DebtorIBAN: IBAN of the debtor’s account.
• CreditorName: Name of the creditor (payee).
• CreditorIBAN: IBAN of the creditor’s account.
• Amount: Payment amount.
• Currency: Payment currency.
• InvoiceNumber: Optional remittance information (e.g., invoice number).

Steps to Import CSV:

• Prepare the CSV file in this format.
• Use a tool like SecureQBPlugin to map the CSV fields to ISO 20022 elements and import into QuickBooks Online.
• Verify that the correct fields are mapped and the payment data is accurate.

4. Using XML Format (ISO 20022 Compliant)

An ISO 20022 XML format for FedNow or RTP can be directly used if you are following the Pain.013 message type.

Example XML (Pain.013 for Request for Payment):

xml

<Document>

   <CstmrCdtTrfInitn>

      <GrpHdr>

         <MsgId>PAYMENT123</MsgId>

         <CreDtTm>2024-09-15T12:34:56</CreDtTm>

         <NbOfTxs>1</NbOfTxs>

      </GrpHdr>

      <PmtInf>

         <PmtInfId>PmtInf123</PmtInfId>

         <PmtMtd>TRF</PmtMtd>

         <ReqdExctnDt>2024-09-15</ReqdExctnDt>

         <Dbtr>

            <Nm>John Doe</Nm>

            <PstlAdr>

               <Ctry>US</Ctry>

               <AdrLine>123 Payment St</AdrLine>

            </PstlAdr>

         </Dbtr>

         <DbtrAcct>

            <Id>

               <IBAN>US123456789</IBAN>

            </Id>

         </DbtrAcct>

         <Cdtr>

            <Nm>ABC Corp</Nm>

         </Cdtr>

         <CdtrAcct>

            <Id>

               <IBAN>US987654321</IBAN>

            </Id>

         </CdtrAcct>

         <RmtInf>

            <Ustrd>Invoice INV-456</Ustrd>

         </RmtInf>

      </PmtInf>

   </CstmrCdtTrfInitn>

</Document>

Steps to Import XML:

• Ensure your XML adheres to the ISO 20022 Pain.013 standard.
• Use the SecureQBPlugin to upload and map the XML file to the corresponding fields in QuickBooks Online.
• After uploading, review the data in QuickBooks to ensure correct import of the debtor, creditor, amount, and remittance information.

5. Using JSON Format

JSON is a more flexible and commonly used format for data transfer between systems. You can structure your payment request data to follow the same schema as ISO 20022.

Example JSON for RfP:

json

{

  "Message": {

    "MsgId": "PAYMENT123",

    "CreationDateTime": "2024-09-15T12:34:56",

    "NumberOfTransactions": 1

  },

  "PaymentInformation": {

    "PaymentInfoId": "PmtInf123",

    "PaymentMethod": "TRF",

    "RequestedExecutionDate": "2024-09-15",

    "Debtor": {

      "Name": "John Doe",

      "Address": {

        "Country": "US",

        "Line1": "123 Payment St"

      },

      "Account": {

        "IBAN": "US123456789"

      }

    },

    "Creditor": {

      "Name": "ABC Corp",

      "Account": {

        "IBAN": "US987654321"

      }

    },

    "RemittanceInformation": {

      "Unstructured": "Invoice INV-456"

    }

  },

  "Amount": {

    "Currency": "USD",

    "Value": 1500.00

  }

}

Steps to Import JSON:

• Ensure that your JSON structure aligns with the ISO 20022 standard, especially the payment information and remittance sections.
• Use a JSON-to-ISO 20022 converter or map the fields directly using the SecureQBPlugin.
• Upload the JSON file through the plugin and confirm the correct mapping of payment fields such as Debtor, Creditor, Amount, and Remittance Information.

6. Mapping the File Data to QuickBooks Online (via SecureQBPlugin)

Once you have the CSV, XML, or JSON file in the appropriate format, the next step is to import the file into QuickBooks Online using SecureQBPlugin.

Steps:

• Open SecureQBPlugin and connect to your QuickBooks Online account.
• Select the import feature and choose the file format (CSV, XML, or JSON).
• Use the plugin's file mapping interface to map the fields from the ISO 20022 messages to the corresponding QuickBooks Online fields. For example:
  • Debtor Name → QBO Customer Name.
  • Creditor Name → QBO Vendor Name.
  • Amount → Payment Amount.
  • Invoice Number → Transaction Description or Invoice Number.
• Import the file into QuickBooks Online, ensuring that all fields are correctly mapped and the data is accurate.

7. Validation and Testing

• After the import is complete, validate the imported data in QuickBooks Online.
• Check if the payment requests and transaction details have been correctly entered.
• Verify that the debtor and creditor information, payment amounts, and remittance data (like invoice numbers) are correctly mapped to the relevant customer or vendor accounts.

8. Automation and Scheduled Imports

If you frequently deal with FedNow or RTP payments, you may want to automate or schedule regular imports using SecureQBPlugin. This ensures that real-time payments are seamlessly integrated into your financial records in QuickBooks.

Final Thoughts

By using CSV, XML, or JSON file formats and ensuring compliance with the ISO 20022 structure, you can successfully integrate FedNow Instant Payments and Real-Time Payments (RTP) Request for Payment messages into QuickBooks Online. The key is ensuring proper mapping of fields and validating the data after import.

Let us at TodayPayments.com know if you need any further customization or technical details for this integration process!