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Is Automated Clearing House (ACH) part of the Finance Scope?

April 26, 2017ACH Automated clearing Finance House SCOPE

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Is Automated Clearing House (ACH) part of the Finance Scope?

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Yes. It is integral to the Accounts Payable module. ACH is a standard protocol for transmitting transactions between banking institutions and banking customers. It’s primary use will be for handling direct deposit of employee’s paychecks and student refunds into their personal bank accounts.