If your Finance or Payroll folks make special arrangements with an employee to repay debts or overpayments, it’s critical to remind them to get the agreement in writing. This is the best way to protect your company in case any…
Payments and Transactions
Nacha’s WEB Debit Account Validation Rule kicked in on Friday. However, if you’re not completely ready, you catch a break. Under the rule, if you rely on automated clearinghouse (ACH) debits from customer accounts, you now have to take another…
Your company may use virtual cards for vendor payments – and now, some providers are looking to bring them into the business travel world. As most finance pros know, virtual cards, or “ghosts cards,” each have a unique 16-digit number…
Each year, 120 trillion dollars are exchanged between businesses around the world. And more and more of those transactions are being made digitally. The Association for Financial Professionals (AFP) reports that paper check usage as a percentage of U.S. B2B…
The Same Day automated clearinghouse (ACH) processing window will soon open wider! Effective March 19, the Same Day ACH files can be submitted until 4:45 p.m. ET (1:45 p.m. PT). That's an extra two hours in your workday. Currently, the…
In March, a new higher per-transaction threshold for same day automated clearinghouse (ACH) payments kicked in. And with it came new concerns from your peers. Time to debunk dome same day ACH myths! Admittedly, you probably had many other things…
Right now, health and safety are major concerns in the business travel sphere, making contactless payments an appealing option for companies. In fact, contactless payments (e.g., mobile pay) could see a major surge due to the coronavirus pandemic. And they…
No better time to make sure everyone carefully follows your company's purchasing card controls. Just ask Delaware State University (DSU). In a recent audit of the school’s 6,116 p-card transactions, 487 seem to violate the policy restrictions. The cost of…
Due to the worldwide pandemic, your finance team has really been put to the test lately, especially concerning its payments process. It’s had to keep invoice and payment workflows on track, often in new remote environments or with unexpected procedural…
Your company may be entitled to some sales tax relief. Many states are cutting companies a break on this critical compliance front due to the coronavirus. That's in addition to the relief you're getting on the federal tax compliance level…
Circle this day in red on your Finance calendar: March 20, 2020. That’s when the per-transaction dollar limit for Same Day ACH quadruples. The current $25,000 cap will jump to $100,000. It's the latest in a series of enhancements designed…
Whether your finance department is ready or not, globalization is spreading and international payments are steadily increasing. In 2019, 83% of companies sent cross-border payments, according to a new report from Levvel Research. That’s a 10% increase from 2018. And…
