Tipalti

Guide

ACH Direct Deposit

Setting up an ACH requires a savings or checking account, routing number, and bank account number. An ACH direct deposit can not happen until this data is shared with the payer. The account information of the payee is always required to set up a direct deposit. Otherwise, how will a business know where to pay you?

What is ACH Withdrawal

Knowing if and when to use ACH payments can lower transaction fees, reduce administrative costs by decreasing processing time, and create a seamless payment system for you and your vendors.

B2B Payment Solutions

The digital payments process needs to be secured with technical safeguards as much as possible. For example, businesses that rely on digital payment processing should only use secure networks to send and receive funds. They should also track both incoming and outgoing transactions to verify all payments.

Best Way to Pay Contractors

Paying an independent contractor is not the same as paying a regular employee. Unlike employees, independent contractors are self-employed, set their pay rates, and can negotiate payment options and schedules.

Accounts Payable Invoice Approval Process

The accounts payable invoice approval process, which is part of the AP invoice processing and payment processing workflow, is an area that your business can streamline with BPI to yield significant cost-savings benefits.

Global Tax Requirements

Laurie Hatten-Boyd, Principal at KPMG, explains how tax requirements impact organizations with global supplier basis and the legal and financial penalties for noncompliance.

Batch Payment Processing

Is real-time processing or batch payment processing better for your business? There are two main areas that should guide your decision. The first is whether or not you’ll need to make adjustments to transactions after sales. As with any other business decision, you’ll also want to compare the associated costs.

Quickbooks Fees

With a comprehensive understanding of the Intuit QuickBooks basic costs and add-on fees, you can select or switch to the QuickBooks offerings, services, and add-on apps that match your company’s size, industry, desired features, and budget.

Bill Pay Software

There is a multitude of reasons why a bill pay software can pad your cash flow and help your budget. There can be time and stress in the monthly bill-paying process and if you own a busy company, this is something that needs to be automated.

Global Supplier Management

When it comes to global supplier management, things can get complicated quickly. Every country has its own regulations and you need to know it all. Changes can happen by the day or even by the hour. The task of managing all supplier data can be quite cumbersome and oftentimes, even challenging. So what are the best ways to ensure these global suppliers are market-compliant and on track?

Payment Automation

Payment automation is part of the broader spectrum of fintech. It allows an organization to make check, ACH, wire transfers, and virtual card payments through online banking. It goes beyond a simple purchase-to-pay solution that provides an “ok.” and will verify account data.

Online Payment Software

Get a better understanding of how all three payment solutions operate and you’ll be better equipped to make the right choice. Understand there are options beyond Stripe, PayPal, and Square but we reviewed these for a reason. They all serve very different functions but are top of the market. Selecting the right software will see you to success!

AP Turnover Days

If you’re evaluating how to improve accounts payable turnover ratio and related AP turnover in days, consider these strategies and best practices. AP automation software is an essential tool for achieving optimal AP turnover days. These recommendations will help your business cut costs, see trends, take early payment discounts, meet suppliers’ needs, recognize financing needs, and better manage cash flow.

Accounts Payable Report

Running reports is essential to staying on top of business finances. In order to run the most effective reports possible, an accounts payable department should also have some other best practices in place.

Accounts Payable Department

The overriding objective in structuring or restructuring your accounts payable department is preventing fraud through the separation of duties both inside and outside the accounts payable department structure.

Flat file integration vs API

State-of-the-art, online automated AP software apps are often designed with a seamlessly integrated API (application programming interface) for cloud ERP accounting software systems. Flat-file integration works well to transfer batch files for payment processing using SFTP (secure file transfer protocol).

TransferWise vs Xoom

Both Transferwise and Xoom (owned by PayPal) offer a similar money transfer service, but there are subtle differences that give each of them an advantage over the other depending on the application.

AP Automation for Intacct

Sage Intacct accounts payable software is missing some essential features that AP automation provides. Sage Intacct lets you buy an AP automation solution with seamless integration through the Sage Intacct Marketplace.

Invoicing and Payment Software

There are many tricks of the trade to get the most out of your invoicing and payment software. The more small business owners can streamline processes, the more money they will make. Here are a few tips to consider:

Accepting Payments Through Quickbooks

This guide shows you how to accept payments through QuickBooks Online. It’s useful for receiving payments from customers. With the right approach, apply customer payments to your invoices, reducing accounts receivable.

ACH Verification Process

There are multiple verification options to make sure an ACH payment is genuine. The common thread running them all of them is to confirm the account information with the financial institution that holds the account.

AP Automation for Quickbooks

Tipalti AP automation software integration with QuickBooks Online or QuickBooks Online Advanced. Use it to save your company money. It will reduce future labor hiring needs and improve employee retention, attitude, and motivation.

Accounts Payable Management

Refining the payables process enhances the accuracy of your cash flow predictions. This enables a payable department to help set better budgeting, which will ultimately position a company to improve liquidity. It also helps to mitigate any gaps in funding and realize higher profits.

AP Turnover Ratio

The AP turnover ratio is one of the best financial ratios for assessing a company’s ability to pay its trade credit accounts at the optimal point in time and manage cash flow wisely.