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Best Practices for Accounts Payable

Posted by on Mar 27, 2014

Accounts payable is defined as any money that a company owes to its employees, vendors, creditors and so on. Although that seems like an integral part of a business that should have been fine-tuned and at the peak of excellence in this day and age, there are many companies that don’t have the appropriate accounts payable practices.  How a company manages its payables affects cash flow as well as relationships with its vendors. Both of those can directly affect an organization’s bottom line. For companies who have excellent accounts...

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Next Step, Real Time ACH Settlements?

Posted by on Mar 21, 2014

Traditional methods of ACH payment settlement functioning from a single, next-day settlement  are soon to be a thing of the past. In a release earlier this week, the Electronic Payment Association (NACHA) has launched the initial phase of its plan to implement same-day settlement capability. Eventually, multiple payment options for ACH transactions will be available for same day settlement. Multi-Phase Approach The implementation of the first phase will encompass same-day credits for important cases such as payroll, person-to-person payments...

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Meet The Great and Powerful Cloud

Posted by on Mar 21, 2014

In very recent history, a huge gap has been crossed in technology making the internet relatively accessible to almost anyone. People all over the world have experienced that transition, and been quick to make it a seamless part of everyday life and business. Many have been able to use this as a way to increase productivity and enhance life in everyday tasks. As these changes progress and evolve, it can seem overwhelming to stay on top of current trends and information. Some may still be debating the purchase of a smartphone. For those who need...

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AP Automation – What Should I Consider?

Posted by on Mar 21, 2014

Chief financial officers (CFO’s) and other executives who are seeking to aggressively expand their businesses are faced with difficult choices. Deciding the best way to lower operating costs in order to increase expansion of the business is a delicate balance, and often leads to an evaluation of the costs of non-core labor and expenses. Many businesses are turning to Accounts Payable (AP) automation to help cut those costs. There are many services that provide any number of AP automation solutions, with several key things to consider while...

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Payroll In-House vs. Outsourced Increasing Control, Flexibility, and Efficiency

Posted by on Dec 31, 2013

Below is our analysis of using Sage accounting package in conjunction with an “Outsourced” payroll solution vs. utilizing the “In-House” solution with Sage accounting package and Sage payroll module in conjunction with Piracle and Aatrix services. We compared the two options to determine which solution gives Sage users the most flexible payroll tools. Here is what we found: Integrated with Sage Accounting Both solutions work with Sage accounting software, but the In-House (Sage) payroll module is completely integrated into the native...

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MICR Lines: The Standards

Posted by on Dec 17, 2013

Printing checks in-house and MICR toner go hand in hand. All MICR toner and MICR lines have standards that they must meet for the checks that are printed to ultimately clear their bank. This is important for those who use check printing software to print onto blank check stock. What is MICR toner? To understand what MICR toner is, one must first know what a MICR line is on a check. The MICR stands for Magnetic Ink Character Recognition, a specialized process to automatically enter data into a financial institution’s computers to easily...

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Multiple Bank Accounts? Blank Check Stock Can Save You Money

Posted by on Dec 17, 2013

For a large business, using multiple bank accounts isn’t an oddity. In fact, most large businesses use more than one bank account so have a logical separation of business units and/or unique job sites. With more checking accounts, comes more checks and check books which can be a hassle for a business that writes checks constantly. The best solution for a business with multiple bank accounts that wish to use checks is to purchase blank check stock and check printing software. This article will explain the difficulties with using multiple...

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Data Breach? Encryption can Help

Posted by on Dec 4, 2013

Businesses retaining and maintaining sensitive data from employees and customers isn’t unheard of, in fact, as of 2013, 46 of the 50 United States have legislation regarding data and data breaches because it is such a common occurrence. Depending on the relationship, collecting sensitive data may be required in order to conduct normal business. Usually that information is stored in data bases on site, along with information from employees on payroll and vendor’s for accounts payable. If there is a data breach, 46 states have legislation...

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Differences between ACH Payments and Wire Transfers

Posted by on Nov 24, 2013

Wire transfers and ACH payments may seem similar, almost identical. However, the two are quite different, and understanding the differences between them is beneficial for anyone who is interested in using electronic methods of payments for moving money to and from bank accounts.  ACH payments are more convenient, and cheaper, as well as more secure. On the other hand, wire transfers are quicker. Each can be used for different means but in most financial situations using an ACH payment to transfer money is a better choice. Wire Transfers Wire...

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Three Benefits of Businesses using Check Printing Software

Posted by on Nov 24, 2013

Change can be a business’s best friend, and can be it’s worst nightmare in the same regard. Change could mean saving time, money and providing more security. Change could mean quicker processing times. It could mean adopting new technology. Changing a business’s procedures, or teaching employees new technology can be a hard transition. Although adopting new ideas is always a challenge in a business, the benefits a business reaps by evolving and changing can be numerous. For many businesses, finances are a challenge. Using technology to...

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