FedNow® Reconcile: real-time payments in The FedNow® Service
TodayPayments.com offers intelligent FedNow® reconciliation tools designed for real-world business needs. From issuing RfPs to tracking payer timing, we enable businesses to reconcile payments accurately and instantly, regardless of their accounting method or platform.
To empower every business to reconcile real-time payments with confidence—using structured data, interoperable formats, and full-cycle visibility—so that finance teams can focus less on tracking, and more on scaling.
FedNow® Reconcile: Understanding Timing Between Payee and Payer Transactions
Bridging the Gap Between Request and Receipt in Real-Time Payments
For businesses, the timing between requesting funds and receiving them can make or break cash flow. With the FedNow® Service and the RTP® Network, transactions are faster than ever—but reconciliation still depends on visibility, especially when Requests for Payment (RfPs) are involved.
Whether you use Cash Basis or Accrual accounting, understanding how to reconcile the time gap between RfP issuance and payment settlement is key. Without defined invoice terms, that delay could stretch up to 365 days. Real-time doesn’t just mean speed—it means transparency, traceability, and interoperability.
FedNow® allows Payees to send Request for Payment (RfP) messages and Payers to transmit funds instantly, but the reconciliation process depends on how and when the payer responds. This gap must be accounted for, especially in Aging A/R reports, regardless of whether your business uses Cash Basis or Accrual accounting.
Why FedNow® reconciliation timing matters:
- ⏱ The RfP can remain open for days, weeks, or even months if not settled by the Payer
- 📊 Accounting teams must track these pending requests as aging receivables
- 💼 Cash basis merchants still need to log RfP date vs. actual fund receipt
- 🔁 Automated systems can reconcile this timing using ISO 20022 data flows
Reconciliation Formats Supported:
- .CSV files for accounting software imports
- .Excel for aging schedule reports
- .JSON and .XML for fintech integrations
- ISO 20022 messaging for machine-readable, real-time metadata
"FedNow Reconcile" seems like a feature or service related to the Federal Reserve's real-time payment system, FedNow. It appears to involve the instantaneous review of outstanding "Request for Payments" digital invoices or batches.
This capability could streamline reconciliation processes for businesses and financial institutions, allowing them to quickly verify and reconcile payments in real-time, rather than waiting for traditional batch processing or manual reconciliation procedures.
By providing instant visibility into pending payments and invoices, FedNow Reconcile could potentially improve cash flow management, reduce errors, and enhance overall efficiency in financial transactions.
Cash or Accrual? FedNow® Supports Both with Smart Data Tracking
Whether your company reports on a cash basis (only recognizing revenue when cash is received) or accrual (recognizing revenue when earned), FedNow® transactions offer total visibility.
With FedNow® Reconcile features, your business can:
- Create a trail from RfP → Approval → Transfer → Bank Settlement
- Separate RfP “requested but unpaid” from “cleared and deposited”
- Generate A/R aging reports for up to 1-year delay windows
- Match and close receivables faster across banks and fintech platforms
This reconciliation becomes even more critical for subscription businesses, B2B transactions, and enterprise-level receivables, where delays in payer response can skew cash projections and DSO metrics.
Using FinTech & Bank Dashboards for FedNow® Reconciliation via ISO 20022
You can automate reconciliation by using:
- 🏦 Bank dashboards with FedNow® transaction tracking
- ⚙️ FinTech platforms that accept file uploads in .CSV, .Excel, .JSON, .XML
- 💬 ISO 20022 rich data messaging, enabling smart tagging, invoice IDs, and payment confirmations
By integrating these formats, you eliminate the guesswork behind "Has the Payer responded yet?" and replace it with automated notifications, aging reports, and bank-level transparency.

✅ "FREE" RfP Aging & Real-Time Payments Bank Reconciliation – with all merchants process with us.

To support merchants and finance teams of all sizes, TodayPayments.com offers free downloadable templates, including:
- Aging Accounts Receivable Worksheet: Pre-built with 15, 30, 60, 90+ day tracking
- Bank Reconciliation Templates: Instantly match payments with deposits across batches
- ISO 20022 File Format Samples: Plug-and-play structures for batch uploads and RfP message testing
To leverage FedNow Reconcile for real-time payment reconciliation, a business can follow these steps:
1. Integration with FedNow Service: First, the business needs to integrate its systems with the FedNow service. This may involve working with their bank or a third-party provider to establish connectivity and access to the FedNow platform.
2. Request for Payments (RFP) Digitization: Ensure that the business's invoicing system supports digital Request for Payments (RFP). This could involve using compatible invoicing software or updating existing systems to generate digital invoices that can be transmitted and processed in real-time.

3. Real-Time Payment Notifications: Configure the business's systems to receive real-time payment notifications from the FedNow service. These notifications will alert the business when payments are initiated, authorized, and settled.
4. Automated Reconciliation: Implement automated reconciliation processes that can match incoming payment notifications with corresponding RFPs or invoices. This may involve developing custom reconciliation algorithms or using specialized software solutions designed for real-time payment reconciliation.
5. Exception Handling: Establish protocols for handling exceptions or discrepancies identified during the reconciliation process. This could include mechanisms for investigating payment failures, resolving disputes, or flagging suspicious transactions for further review.
6. Reporting and Analysis: Generate reports and analytics to track payment reconciliation performance over time. Monitor key metrics such as reconciliation accuracy, processing speed, and exception resolution times to identify areas for improvement and optimization.
7. Continuous Optimization: Continuously refine and optimize the business's real-time payment reconciliation processes based on feedback, performance metrics, and evolving industry standards. This may involve iterating on reconciliation algorithms, upgrading software systems, or incorporating new technologies to enhance efficiency and accuracy.
By following these steps, a business can effectively leverage FedNow Reconcile to streamline its real-time payment reconciliation processes, improve operational efficiency, and enhance overall financial management capabilities.
Reconcile Real-Time FedNow® Transactions with TodayPayments.com
Timing is everything. In the world of real-time payments, knowing when a payer responds—and reconciling that in your books—can be the difference between profit and penalty.
With TodayPayments.com, you gain:
- 📥 Full RfP-to-payment reconciliation tools
- 📂 Download/upload support in .CSV, .Excel, .JSON, .XML, and ISO 20022
- 📊 Real-time aging visibility for cash and accrual accounting
- ⚙️ Automation and alerts that eliminate reconciliation delays
Don’t leave your receivables floating in the unknown.
👉 Start your real-time reconciliation journey at TodayPayments.com and turn every payment into actionable, trackable revenue.
ACH and both FedNow Instant and Real-Time Payments Request for Payment
ISO 20022 XML Message Versions.
The versions that
NACHA and
The Clearing House Real-Time Payments system for the Response to the Request are pain.013 and pain.014
respectively. Predictability, that the U.S. Federal Reserve, via the
FedNow ® Instant Payments, will also use Request for Payment. The ACH, RTP® and FedNow ® versions are "Credit
Push Payments" instead of "Debit Pull.".
Activation Dynamic RfP Aging and Bank Reconciliation worksheets - only $49 annually
1. Worksheet Automatically Aging for Requests for Payments and Explanations
- Worksheet to determine "Reasons and Rejects Coding" readying for re-sent Payers.
- Use our solution yourself. Stop paying accountant's over $50 an hour. So EASY to USE.
- No "Color Cells to Match Transactions" (You're currently doing this. You won't coloring with our solution).
- One-Sheet for Aging Request for Payments
(Merge, Match and Clear over 100,000 transactions in less than 5 minutes!)
- Batch deposits displaying Bank Statements are not used anymore. Real-time Payments are displayed "by transaction".
- Make sure your Bank displaying "Daily FedNow and Real-time Payments" reporting for "Funds Sent and Received". (These banks have Great Reporting.)
Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.