General Inquiries

E-checks

  • 1.  E-checks

    Posted 12-04-2019 10:54
    So the company I work for is going remote at the end of January 2020. I started looking into e-check options to assist on the AP end. I have spoke to a few companies but many of them have their own systems where they upload invoices and pay them. We have spent a lot of money on our current program (Sage 100) so I would prefer not to move away from that. Any good recommendations on e-check companies where we can still use our software?

    Pros/Cons? This is the 1st time we are going remote, so we will have an interesting transition ahead. I would like to see what i can do to make this as smooth as possible on the AP side.

    Thanks in advance,


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    Andrea Orellana
    Assistant Controller
    REIG Asset Management
    San Marcos CA

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  • 2.  RE: E-checks

    Posted 12-05-2019 07:06
    Hi Andrea,

    I recommend starting by having a discussion with your bank if you have not already done so. You might be able to send one file to your bank and have them distribute the funds as you direct, whether via ACH, virtual card payment or e-check.  Nvoicepay is a company that offers this same service.  If you have not looked into paying vendors by virtual card that can be a way to earn a nice rebate for your company.  For virtual cards I highly recommend Capital One as I have had very good experience with them.  Finally, there is a service that some banks, and perhaps others, offer where you pay vendors via ACH using a service called "Paymode X."  The rebate is much smaller but if a vendor will not accept virtual card it is another avenue you can use to generate an earnings stream for your company.

    Regards,

    Rich

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    Richard Johnston
    Accounting Manager
    Limbach Facility Services LLC
    Pittsburgh PA
    (412) 359-2265
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