To keep your ACH payments flowing smoothly, Nacha advises businesses to update financial institution routing number validation tables at least monthly. That may mean more work for your A/P team, but it ultimately means less stress for them because they…
News
Companies with funds tied up in the recent bank collapses had to scramble to pay their employees on time. No one wants to go through that again. That includes the Federal Deposit Insurance Corporation (FDIC). Large concentrations of uninsured deposits…
The Supreme Court will be putting an end to the 39-year-old Chevron deference that's been afforded to federal rulemaking agencies. The upshot? Agencies will have a much more difficult time enacting rules that impose substantial costs on an industry sector…
Failed B2B payments can be disruptive in areas beyond cash flow. For instance, if your bank has to repeatedly put in extra work to process ACH payments, there’s a chance they could stop making the necessary changes to pay files…
The Biden administration is delaying finalization of a controversial Securities and Exchange Commission (SEC) rule on climate change-related disclosures until the fall. The upshot is there's little chance the regulation is finalized and goes into effect during Joe Biden's first…
For companies allowing health savings account (HSA) contributions via payroll deductions, a recent IRS announcement contains important info for 2024. The HSA contribution limits will increase significantly next year. Of course, employees who make contributions must be covered by a…
When dealing with an employee who people complain is odd or just don’t get along with, many managers will eventually let that person go. But firing a "high-maintenance" staffer may not always be the best course of action. Case in…
2022 turned out to be a better year compensation-wise for your peers in the finance realm than 2021. The Association for Finance Professionals (AFP) annual compensation report shows how companies weathering interest rate hikes, nagging inflation and supply chain woes…
Check fraud is on the rise again. The U.S. Postal Service just alerted financial institutions that check fraud DOUBLED from 2021 to 2022. Individuals are most at risk for seeing their bank accounts ransacked and identities compromised, but the thieves…
CFOs hate to hear about poor financial literacy among workers, especially the folks they count as friends. The latest economic news on that front isn't good (though it may be great news for some employers. More on that later.) Just…
Heads up: You may need to ask to see certain employees' Form I-9 documents, even if they were hired several years ago. That's because the flexibility employers had due to COVID-19 will disappear this summer. After multiple extensions of the…
Have you ever asked an employee to do something and didn't get the results you wanted? Most of us had that experience at one time or another. Sometimes you ask for one thing and they hear something completely different! How…
