Accounts Receivable Conversion to (ARC) converts payments to electronic transactions that are processed over a network. ARC will also review as a conversion, as the billing company to use ARC to read a customer's check and convert them into an electronic payment through an automated clearing house (ACH). This ensures that a company is no longer required to deposit or deliver the money to the bank, because it automatically. It also means that a company less to worry aboutControls that are not clear and fraud. Currently electronic conversions include about 35 billion checks written each year. But converted to NACHA, an electronic trading association, 1.25 billion consumer checks were ARC payments.
ARC services must be provided at the processing to the central collection, monitoring and research into transactions simple and effective. Your company will also benefit from administrative returns management, comprehensive reporting and speed up the processing of return item.Consumers know the difference, not because they continue to mail their payments. Other advantages of ARC include privacy and protection. Fewer people see personal information about the check because it is electronic and the National Automated Clearing House Association (NACHA), the rules provide protection against errors and unauthorized payments.
The payment is an ACH transaction by providing information from the review, as the routing and account numbers. It is scannedand delivered to a bank for processing. Customers will receive a statement showing the amount debited, the company's name and a description of what was purchased. However, there is some confusion about what is not exactly see a customer on the declaration. Various banks label these transactions in different ways. Some call it automated checks, while others refer to them as unauthorized transfers. The fact is that many customers do not receive detailedStatements.
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