It seems that as technology has expanded and evolved, the world of commerce has followed suit. Regardless of the industry, increased reach to customers and the use of remote employees has also generated the need for new ways of moving money around. Whether this is payment for services or products, much of the world's finances operate on a digital and data based transactions rather than a tangible exchange of funds.
One thing that is still a concern with any type of transaction is security for both internal and external payments. The use of ACH has helped to not only facilitate client payments and billing as well as payroll, but has also helped to make it simpler for auditing and correcting financial management issues.
One of the aspects that has made ACH a popular way of managing payments for online transactions is the fact that it allows businesses to operate on the same schedule as they do for regular banking deposits. Since ACH functions are based on regular bank hours and settle accounts each evening, it can help to integrate the administrative process for both real time and online sales and payments. For many companies, this cuts down on needless accounting mistakes, as all the deposits and debits can remain on the same schedule.
This aspect also makes audits a simple process. Not only are ACH entries organized by batch, but they are also virtually archived in order to track down any discrepancies. As with traditional deposits and withdrawals, companies are given time to review transactions and enter a dispute form if there are accounting errors. This applies to business to business transactions as well as automated payroll accounts. The electronic records are securely stored for future needs such as tax season, and the processing of the information allows for the business to run smoothly with both virtual and actual transactions.
At National Processing, we have a number of ACH possibilities that can suit large and small companies, for business to business or business to customer transactions, but we can also accommodate person to person payments. Often, this latter option allows new ecommerce endeavors to begin to generate revenue through having secure payment options that will apply to any customer. As a company grows, we can also tailor ACH capabilities to meet these rising demands, which cuts down on administrative costs and also allows for remote employees to help in building the enterprise.