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Selecting an online payment processing system that refuses to take the payment methods your clients want to use is like trying to communicate in Chinese at a market in Marrakech: neither strategy is likely to work. Similarly, a merchant’s point-of-sale system should match the payment options their customers prefer. Physical stores offer different payment methods … Continued
Business owners frequently cross-reference their records with bank transactions to ensure everything runs smoothly. They can verify that the figures on their balance sheet match the bank statement, which is a best practice. The balance sheet is adjusted if any discrepancies or fraudulent charges are found. The month-end close procedure involves examining the balance sheet, … Continued
As a business owner, you might wonder if you can use your business debit card for personal expenses since the money is technically yours. Also, for small business owners, it’s common to confuse personal and business expenses. When is it okay for your business to handle costs like coffee, and when should you use your … Continued
A business bank statement is a record of the transactions you conducted during a given time frame. It usually includes details about your business savings or checking account and covers a month. The statement shows your deposits and withdrawals, as well as any transactions made with the debit card linked to the business account. Let’s … Continued
Within the Automated Clearing House (ACH) Network, there are two different categories of financial institutions: ODFIs and RDFIs. The majority of significant functioning banks are authorized by ODFI and RDFI to transmit and receive ACH money transfers. An ODFI or RDFI may also permit third-party payment processors (TPPPs) to accept ACH payments as a legitimate … Continued
Never miss any payment or leave your company without an opportunity to keep rolling.
Never miss any payment or leave your company without an opportunity to keep rolling.