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Who can use ACH? Any company, that receives recurring payments from customers or makes payments to vendor can benefit from using ACH transactions. ACH transactions are processed through your banks and most of the banks offer ACH support.

What are the benefits of using ACH? The accounts payable and account receivable process can be streamlined using ACH payment transactions. Processing checks – making vendor direct deposit and receiving customer payment – involves considerable staff time, delay in payment process and payment reconciliation issues. If you are receiving payments using credit cards, you will be paying 2-2.5% in credit cards fees. ACH transactions are electronic payments and costs less than $0.25 per transaction, depending upon your transaction volume and bank rates.

Why there is resistance to migrate to ACH? Many firms have switched over to ACH payments to reap benefits of ACH. However, many firms that can greatly benefit from ACH have not yet migrated to ACH for the following reasons:

  • Set Up Takes Time – First time setting up of the ACH process involves setting up of the ACH account with bank and providing customer/vendor authorization to banks to process ACH transaction. Management commitment is required to initiate such process and support it.
  • Creating NACHA file is cumbersome – Many banks expects clients to enter ACH transaction on their secure site or send a NACHA file to process the ACH transactions. Entering transactions on the bank site is manual process and error prone. Creating NACHA file is cumbersome process as popular accounting packages like QuickBooks does not offer any features to support NACHA file

How does InLattice facilitate ACH transactions? Inlattice document portal features provide online access to customer invoices, to receive vendor invoices and send payment information. InLattice is also integrated with QuickBooks. Using this platform, InLattice provides the following options:

  • Generate NACHA file based on one of the following option:
  • 1– Customer can view an invoice online and authorize ACH online payments with a click of a button, instead of mailing a check or making credit card payment.
    2– If customer has pre-authorized ACH payments – like subscription charges, NACHA file can be generated from customer invoice data
    3– Based on vendor payment records created in accounting packages like QuickBooks

  • Send email notifications to customer about the debits
  • Send email notifications to vendors about the bank credits
  • Provide online access to invoices, payment records and detail history of each transaction

What are the benefits of using InLattice ACH payment feature?

  • Using InLattice ACH for customer payments speeds up the collection process, makes it easier for customers to pay and keeps a record for you and the customer to see.
  • Using InLattice not only eliminates the need to purchase supplies like paper, envelopes, stamps, checks and storage space, you reduce the manual effort and errors caused by handling paper.
  • The task of creating and maintaining the NACHA file is now automated using InLattice.
  • The link that InLattice provides to QuickBooks Pro and QuickBooks enterprise edition automates the accounts payable and accounts receivable process.
  • With InLattice you can elect to start with just a few customers and ramp up to make accounts receivables process paperless. Likewise you can do the same thing with accounts payable. All the receivables and payables can be handled with ACH and NACHA file capabilities.
  • Entities such as home owner association (HOA) and condo owner associations, member groups or clubs are prime candidates for ACH/NACHA file processing.
  • Those vendors with a relationship with customers that are billed often and in small amounts are in a position to benefit the most.
  • For those who have a stable customer or client base can benefit using InLattice with the ‘online payment approval’ of the invoice.

For more information, please visit InLattice ACH for Payment Automation

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