How can electronic services enhance the accounts payable and accounts receivable processes?
Electronic services ensure that business owners have quick access to accurate information. Direct transmission and downloadable reporting options enable a true system-to-system pipeline of communication. This dramatically reduces reconciliation time and human error in the data transmission between businesses and banks. In addition to reporting advantages, there are invaluable electronic support services such as: Desktop deposit – Cutting-edge technology that allows qualifying businesses to deposit checks to their bank accounts by scanning check items in their own office. This can accelerate the collection of funds and features convenience and security benefits. ACH – Direct transmission of client files and Internet ACH offers more secure and reliable connections over old modem connections. This service allows businesses to send transactions electronically and attach information to the dollar amount, including invoice numbers, account numbers, and customer ID information. Lock box – Ima
