Monitoring your business’s accounts receivable and accounts payable is one of your top priorities. Add efficiency in payroll processing and your accounts receivable with ACH transfers!
Utilize our business online program to generate direct deposit for your payroll or initiate auto debits for your accounts receivable to help impact your bottom line. Here’s a look at this valuable service and how the business bankers at Lake Region Bank can help you make it a profitable year.
What Is ACH Transfer?
ACH transfers are automated, electronic, bank-to-bank transactions. Businesses can use them to collect payments, make payments, and make payroll. Once set up securely through your bank, ACH transfers make direct deposits from your customers into your account. You can also set up ACH transfers to make direct payments to vendors or to pay your employees. ACH transfers help you automate your accounts receivable and accounts payable and are often free.
How ACH Transfer Can Increase Your Accounts Receivable
If you’ve ever chased a payment from a customer, then you already may see the benefit of using ACH transfer for automating your accounts receivable. With ACH transfer, you can set up a single automatic transfer for a single transaction or recurring transfers for an ongoing project. You won’t have to depend on a customer to write you a check or wait for that check to clear.
Another benefit of using ACH transfer with your customers is that you avoid credit card and wire transfer processing fees. These fees can really add up over time, especially if you offer high-cost products or services. ACH direct deposits are often free, making them an ideal alternative to credit card and wire transfer payments.
By automating your customers’ payments to you and avoiding costly processing fees, setting up ACH transfer for your business can increase your accounts receivable and your profits this year.
Meet Lake Region Bank’s ACH Manager
Lake Region Bank is proud to offer business banking customers access to secure and convenient ACH transfers through our ACH Manager tool in Premier E-Corp, our business banking suite. With ACH Manager, you can initiate auto-debits to customer accounts for automatic payments. All you need is signed approval from your customer to set up the transfers.
ACH Manager also allows you to build, save, and retrieve ACH templates to reduce data re-entry and make transfers that much more efficient and easier.
Don’t Forget ACH for Payroll
You can also use ACH Manager to transmit payroll automatically to your employees. Import your payroll files from your accounting software, get signed approval to make the direct payments into your employees’ accounts, and put payroll on autopilot. ACH transfer can help you increase accounts receivable at your business. Our friendly, knowledgeable, and local business bankers can show you how. Contact us today to learn more.
