Positive pay
In accounting, positive pay means a bank fraud control: the company sends the bank a file of issued checks (or approved ACH debits) and the bank returns any presented item that does not match for a decision.
- Layer
- Lexicon
- Defined in
- Lexicon
- Nearby
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Not a rule
Banking practice — not codified. US GAAP governs recognition, measurement and presentation — not the mechanics a bookkeeper uses to get there. Anyone citing a standard for this word is citing the wrong thing.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
Positive pay, in use
Quoted from the document that use the word — what it does to an interface, in the spec's own sentence.
Positive pay files and check numbering are tracked; voided checks are recorded, never deleted.
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- check verification
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
Also in Cash
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.