What is an ACH Transfer & How Do You Make One?
ACH (or Automated Clearing House) is a network used for transferring money payments electronically across the United States. The ACH network is governed by Nacha (National Automated Clearing House Association) and may also be referred to as the ACH scheme.
Career Resources for Women in Tech and Finance
Tech and finance are classically male-dominated fields. For women embarking on careers in these fields, several resources can make the journey easier, both at the beginning and during your tenure as a tech and finance professional.
Profit Margin
The profit margin is a financial ratio used to determine the percentage of sales that a business retains as earnings after expenses have been deducted. For example, a 20% profit margin indicates that a business retains $0.20 from each dollar of sales that it makes.
Open Invoice
Open invoices are a common and helpful tool in the world of accounts payable! Familiarizing yourself with what they are, how they work, and when to use them, can help you more quickly and seamlessly scale your own accounts payable processes.
TIN Matching
You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.
EDI Payments
Many types of EDI payment methods are available to businesses. If you are considering EDI for the first time or are expanding your existing EDI platform, there is at least one method to fit your budget, technology structure, and business transaction needs.
Accrual vs Deferral
So, what’s the difference between the accrual method and the deferral method in accounting? Let’s explore both methods, walk through some examples, and examine the key differences.
Variable Expense Ratio
It’s possible to calculate the variable expense ratio for virtually any time period — it can be calculated for the full financial year, by quarter, or even by month or week. The variable expense ratio can also be worked out per unit.
Vendor Management
To help with the vendor management process, a company can use a software application to manage its vendors in one system. The software, called the vendor management system (VMS), automates vendor selection, hiring, and payment processes.
Reverse Factoring
Reverse factoring is also known as supply chain financing. It’s a financing solution that ordering parties initiate to help suppliers finance receivables. Reverse factoring is an alternative to the factoring financing method, in which the supplier initiates financing.
Accounting Automation
Having an automated accounting system is now considered a must-have for larger companies that deal with thousands of transactions a day, but it’s a relatively well-kept secret when it comes to smaller and medium-sized businesses.
Accounts Payable Automation Benefits
AP automation software helps you achieve advanced PO matching by supporting two- and three-way matching. Tolerance ranges can be customized to ensure unmatched invoices are only paid when proper permission is provided.