Accounts Receivable Automation is a feature of the Payology Check Scanning for Salesforce and ACH Connect solutions that streamlines the acceptance, scanning, recording of ACH/PAD/check transactions, and generation of cash receipts, all of which happens in an automated fashion.
Accounts Payable Automation is a feature of the ACH Connect for Salesforce solution that streamlines the paying and recording of ACH/PAD transactions and generation of cash disbursements, all of which happens in an automated fashion.
Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. The network is a computer-based clearing and settlement facility established to process the exchange of electronic transactions between participating depository institutions.
An ACH Credit is an electronic credit (deposit) initiated by a company or person(s) to the benefit of another person’s or company’s financial bank account.
An ACH Debit is an electronic debit (deduction) initiated by a company or person(s) against a financial bank account.
Cash Receipts are records of cash, checks, or electronic transaction transmissions received. Specifically, when using the Payology Check Scanning or ACH Connect apps for Salesforce in conjunction with Accounting Seed, cash receipts are created automatically upon check scanning.
The Check Clearing for the 21st Century Act (Check 21 Act) is a United States federal law that was enacted on October 28, 2003, by the 108th U.S. Congress. The law allows the recipient of a physical paper check to create a digital version of the original check. Check 21 eliminated the need for further handling of the physical document.
Cash disbursements are objects within accounting solutions that are used to record the credits of payable items.
For IRA Custodians, fund allocation is the ability to allocate a check amount to an asset, split-asset, contribution, rollover, or transfer.
National Automated Clearing House Association (NACHA) manages the administration and governance of the ACH Network, the foundation for the electronic movement of money in the United States. It is funded by the financial institutions which it governs.
Recurring Payments allow organizations to automatically create debit and/or credit payments on a predetermined future date. With ease, an organization can set transactions to Recur on X of Month, Recur Every X Days, Recur Annually, Semi-Annually, Tri-Annually, and Quarterly.
Return Reconciliation is a function that allows an organization's financial institution to transmit ACH and check returns to the Check21.com Payment Gateway and subsequently, the organization’s Salesforce or cloud-based environment.
Salesforce.com is a cloud computing and social enterprise platform-as-a-service CRM solution.