Outstanding FedNow Request for Payments

Managing Outstanding FedNow® RfPs with Uploading and Reporting Tools

Payees can import, monitor, and download RfP files through real-time dashboards connected to U.S. financial institutions. When an RfP is uploaded, its status is tracked instantly. If unpaid, the RfP is categorized as outstanding and automatically added to the AR aging report.

Through secure dashboards, you can:

• Upload individual or batch RfP files (ISO 20022 XML or HTML)
• View pending, expired, or rejected transactions by alias or date
• Export aging lists to Excel for offline use or audits
• Automate reminder emails or SMS messages for overdue RfPs
• Integrate QuickBooks® or ERP systems for seamless reconciliation
• Customize payment terms and follow-up logic for recurring or one-time requests

These tools eliminate guesswork and delays, allowing faster recovery of aging receivables with a few clicks.

Calculating outstanding FedNow requests for payments using Excel or Google Sheets involves managing and analyzing transaction data. Keep in mind that specific details might vary based on your organization's processes and the nature of your data. Here's a general guide:

Excel:

1. Data Preparation:

• Organize your payment data in a structured manner. Include relevant details such as transaction date, payment amount, payment status, etc.

2. Filter Data:

• Use Excel filters to view only the transactions related to FedNow payments.
• Filter the data based on the payment status to isolate outstanding or pending transactions.

3. Calculate Total Outstanding Amount:

• In a new cell, use a formula to calculate the total outstanding amount. For example, if your payment amounts are in column B and the status is in column C, the formula might look like this:

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=SUMIFS(B:B, C:C, "Pending")

• Adjust the column references based on your actual data structure.

Google Sheets:

1. Data Preparation:

• Similarly, organize your payment data in Google Sheets, ensuring relevant details are included.

2. Filter Data:

• Use the filter function in Google Sheets to display only FedNow-related transactions.
• Apply filters based on payment status to show only outstanding transactions.

3. Calculate Total Outstanding Amount:

• In a new cell, use a formula similar to the one used in Excel. Assuming payment amounts are in column B and the status is in column C:

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=SUMIFS(B:B, C:C, "Pending")

• Adjust the column references as per your data.

Additional Tips:

• Conditional Formatting:

• Apply conditional formatting to highlight outstanding transactions for better visual analysis.

• Pivot Tables (Optional):

• Consider using pivot tables for a more dynamic and interactive analysis of your payment data.

• Regular Updates:

• Update your spreadsheet regularly to reflect the most recent transactions and payment statuses.

• Documentation:

• Document any specific procedures or criteria used for identifying FedNow transactions and outstanding payments.

Always ensure that your data is accurate and up-to-date. The specific columns and formulas might vary based on your data structure, so adjust the instructions according to your spreadsheet's setup. If you encounter any challenges, refer to the documentation of Excel or Google Sheets, or feel free to ask for more guidance.

Get Paid Faster with Real-Time RfP Aging at TodayPayments.com

Don’t let pending invoices slow down your cash flow.

✅ Track outstanding FedNow® requests with real-time dashboards
✅ Export AR aging data to Excel by alias, invoice, or payment date
✅ Upload structured ISO 20022 files with payer aliases
✅ Access reconciliation tools for free—no additional software needed
✅ Eliminate batch waits and bank visits with FedNow® RfP automation

Start tracking and recovering outstanding payments today at https://www.TodayPayments.com
Outstanding FedNow® – Real-Time Visibility for Real-Time Cash Flow.