Don't fret if you have no idea what ACH processing is as everything is going to be explained here thoroughly. According to the nonprofit organization Nacha, ACH processing is the method of moving money from one bank account to another. These transactions can occur via...
Many business owners offer their employees the option of receiving a paper check or having the money deposited straight into their bank account. With the latter, your accountant merely needs to input the figures into the secure system, and employees gain access to their funds immediately. Various problems can arise with paper checks. For instance, persons may run into issues finding a place to cash the check, especially if the organization's banking institution isn't nearby.
While it is hard to imagine, it is possible for employees to lose their checks before cashing them as well. Then, the worker is likely to become upset, particularly if he or she got paid on Friday, as they may have to wait until Monday morning before they can get another check cut. Additionally, ACH processing aids businesses that are going green. If direct deposit is the only payment form, they won't be contributing to cutting down trees and hurting the environment.
A lot of people choose to invest in properties and rent them out to tenants. There is definitely nothing wrong with this venture as it provides them with a steady source of income. However, traveling from one unit to the next to collect the rent check-in person can become quite a hassle. Also, listening to occupants tell you that the check is in the mail again and again can get tiresome quickly. ACH processing can eliminate all of these headaches and make your life easier by showing you who is up to date on their payments and who is not.
We provide our clients with a web portal and API, also known as application programming interface, to ensure that they can collect their payments without a hitch. This system is ideal for one-time or recurring transactions. Plus, same-day processing is available. Also, the virtual terminal makes processing payments online a cinch.
Posted in ACH Processing on Aug 29, 2019