Can you reduce your uncashed checks the state is trying to claim?
If you’re usually stuck with uncashed checks that you have to escheat to the state, then it may be time to switch over to this.
Using ACH payments, which can be used for monthly debits for routine payment to vendors, is the best way to reduce your unclaimed “checks.”
Why? Uncashed checks are usually the result of a vendor not receiving the payment in the first place. ACH payments greatly reduce this because vendor payments will always get to the recipients. It’s impossible to do an ACH payment without the recipient’s bank routing and account numbers.
With states aggressively attempting to collect funds from all sources including unclaimed property, now may be the time to switch to ACH.
- Share on
Free Training & Resources
Webinars
Provided by Yooz
Webinars
Provided by Insightsoftware
Further Reading
If a poll of attendees of a recent IOFM webinar is any indication, it’s going to be a very busy Form 1099 reporting season in 2024 fo...
Businesses that let new customers sign up via a click of the mouse may be forced to make cancellation of a subscription just as easy. Th...
Sales tax compliance is a demanding job for finance teams like yours. For example, comparing the number of tax rate changes across the U...
The Financial Accounting Standards Board (FASB) is calling on publicly traded companies to report employee compensation. And that’s n...
AI and machine learning technology is giving companies an edge like they’ve never enjoyed before. Businesses can pinpoint exactly whi...
Ever wondered why Excel features a currency format as well as an accounting format? You’re not alone. The reason is, creating Exce...
