More and more employers are getting on board with using Nacha’s Same Day ACH ever since the agency increased the dollar limit to $1 million in March 2022. During Q2 of 2022, the ACH network processed a whopping 7.5 billion payments – 4.3 billion debits and 3.2 billion credits – largely spurred by growth in […]
If any of your A/P staffers work a hybrid schedule, email is a crucial important tool for invoice processing. Your payables department may also be relying a lot more on e-mail to onboard vendors and approve supplier payments. But relying on email for invoice processing and receiving may present some challenges with: Invoice receipt and […]
Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash, it’s not subject to devaluation from inflation. For A/P transactions, virtual currencies and blockchain technology […]
Word on The Street is the U.S. Federal Reserve wants to hike interest rates at least a couple more times in coming months, which will effect how much businesses want to risk borrowing or extending more credit to customers, among a host of finance issues. But are rate hikes a sure thing? Or could the […]
Supply chain financing has become popular among businesses like yours, and the Financial Accounting Standards Board (FASB) has taken notice. A new rule approved by FASB’s board on July 20 means you’ll have to disclose information on any supply chain financing programs that you’re enrolled in. According to FASB, the rule was proposed in December […]
Between internal fraud risks, cyberattacks and stolen checks, being on guard against fraudulent activity can become an all-day, everyday concern for your A/P department. For instance, the number of fraud complaints nationwide averaged 2,300 per day in 2021 (up from 1,300 daily complaints in 2019), according to the FBI Internet Crime Complaint Center’s (IC3) Internet […]
To prevent rising interest rates from taking a bite out of the bottom line, your peers could be considering an interest rate hedging strategy in order to keep the rates low on variable-rate business loans and stabilize cash flow. Because higher interest rates increase the cost of borrowing money, it can result in postponement of […]
We hate to point out the obvious, but sky-high inflation is making it more difficult for businesses to make ends meet these days. And it’s also placing a heavy burden on companies’ cash flow efforts. The economists who predicted “temporary” inflation pains more than a year ago aren’t apologizing for misreading the economy so poorly, […]
PayPal is making some updates to its business accounts that your A/P and A/R teams need to know about if you’re using the service to make and receive electronic payments with vendors and customers. Here’s a rundown of the changes. Business electronic payment limitations Effective July 28, 2022, PayPal users in the U.S. will only […]
