Accounts Receivable refers to the money owed to a company by its customers for goods or services delivered but not yet paid for.

Accounts Payable represents the money a company owes to its suppliers or vendors for goods or services received but not yet paid for.

ACH Payments

ACH payments transfer funds electronically between bank accounts using the Automated Clearing House network. They replace paper-based methods. They encompass direct payments and deposits, serving various entities. The benefits include more security, faster transactions, automatic payments, flexibility worldwide, lower costs, and easy connections to accounting software.

ACH Transaction

In the ACH payment process, the individual, business, or party that creates the ACH transaction is known as the originator. Your business acts as an originator if it offers online payments and eChecks as a payment option.

Advance Payment

An advance payment is a type of payment made ahead of its normal schedule. This can occur for various reasons, such as securing a product or service, depositing, or ensuring commitment.

ACH Credit

An Automated Clearing House (ACH) credit is a method of electronic funds transfer where funds are initiated by the sender and deposited into the receiver's bank account. ACH credits are commonly used for payroll, government benefits, tax refunds, etc.

ACH Debit

An Automated Clearing House (ACH) debit is a type of electronic funds transfer where money is withdrawn from a bank account at the payer's consent.

ACH Refund

An Automated Clearing House (ACH) refund is a process for returning funds related to transactions like purchases or payments. ACH refunds enable customers to receive their money back for reasons like dissatisfaction with a purchase, non-delivery of goods, or overpayment.

ACH Return

An Automated Clearing House (ACH) return occurs when an ACH transaction can't proceed as intended. When an ACH request is denied, an RDFI sends an ACH return to the originator with a specific code explaining the issue.

Automated Collections

Automated collections streamline finance operations by digitizing the AR department and eliminating paper-based processes. By using B2B payment software, this approach provides scheduled, autopay, and recurring payments. It improves cash flow predictability and reduces DSO.

Automatic Bill Payment

An automatic bill payment is a convenient and efficient way to pay your bills on time, every time. With automatic bill payment, you authorize your bank or financial institution to automatically withdraw funds from your checking or savings account and send them to your billers on the due date.

Autopay

Autopay is a convenient process where bills are paid automatically on the same date of every billing cycle, usually two days before the due date. It can be linked to various bank or credit accounts, such as checking, savings, or credit cards.

Credit Card Processing Fees

Credit card processing fees are the charges merchants pay to accept credit and debit cards. These fees are typically a percentage of the transaction amount plus a flat fee. The average credit card processing fee is around 2% to 3% of the transaction amount, with a flat fee of around $0.30.

Cash Application

Cash application is crucial for managing a business's accounts receivable, matching incoming customer payments with corresponding invoices. It plays a pivotal role in tracking cash flow accurately and efficiently.

Days Sales Outstanding (DSO)

Days Sales Outstanding (DSO) is a financial metric that measures the average time a business takes to collect payment for its credit sales. A high DSO can indicate cash flow problems, while a low DSO shows efficient receivables collection.

Payment Facilitator

A Payment Facilitator helps sub-merchants accept card payments, streamlining the process. It differs from a Payment Processor, as it onboards sub-merchants and takes on more risk. It’s a good choice for managing liabilities with acquiring banks, but it may have higher fees.