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<img src="http://www.profitjump.com/pic/nopic.gif" width=3 height=3 border=0 alt="
Electronic
Fund Transfers Paid On Time, Every Time
What are Electronic Fund Transfers or
EFTs?
EFTs process pre-authorized debits
or credits from one bank account to another within a 48 hour period
to handle your company's payroll, accounts receivable, accounts
payable and/or NSF checks (RCK - returned checks). This electronic
computer based process requires the use of special licensed software
and a modem. All transactions are governed by the Federal Reserve
Banking System.
For those of us familiar with ATM cards
at gas station pumps and grocery store check out lines, the concept
of EFTs continues to earn the confidence of consumers and
is therefore being applied in more and more settings. Over the
past several years, EFTs have gained in popularity among
businesses as well. Now any business, regardless of size, can
use EFTs to conduct a variety of financial transactions.
What are the benefits of EFTs?
The benefits of EFTs are many. For
receivables, benefits include prompt payment of your customers
bills each month and early notice of insufficient funds. You get
your cash on time, every time. While there is a small fee per
transaction for this service, EFTs eliminate the need to
print, process and send a monthly bill in many instances. This
can save you as much as $2.25 to $3.00 or more per customer. Thus,
you could lower your costs for labor to prepare statements as
well as postage and the cost of paper used to print statements.
EFTs also reduce late payments and the need to send out
reminder notices.
EFTs can actually increase your customer
retention. This is most likely to occur in businesses that bill
the same amount on a month to month basis for ongoing services
such as pest control companies, newspapers, pool services, security
companies and the like. Having the fee automatically deducted
from your customers checking account increases the retention
of those who might otherwise let the service lapse.
You can save hundreds, even thousands, of
dollars on your billing and administrative costs, dramatically
improve your cash flow and eliminate many of your collection hassles
by using the EFT services.
While you are saving money, your customers
benefit from EFTs as well. With ETT Consulting, customers
will no longer have to worry about missing billing deadlines.
Bills are paid even when your customers are away from home. No
more writing checks, no more postage, no more service charges
for checks and no more embarrassing second billing notices and
late payments. EFT is free to your customers and your customers
will appreciate this value added service.
How does the EFT transfer process work?
First you have your customers sign a form
that authorizes you to deduct their payment on a certain date.
Your customers provide you with a checking deposit slip to verify
all account information. Then you create the initial database.
According to the billing cycle, the amount of your customers
bill is then automatically debited from their checking account
and deposited into your account. In the case of payroll, your
account is debited and your employees account is credited
each pay period.
Who inputs the information into the computer?
ETT Consulting provides the software
and training to you so you can download needed transaction information
directly from your existing accounting systems using the EFT for
Windows ASCII format. This means no re-keying of data which minimizes
errors and expedites the process. Typically hundreds of transactions
can be downloaded and sent to ETT Consulting in a matter
of minutes.
How much time is required to establish
the initial EFT database?
It only takes a few seconds per customer
to input name, bank account number, routing transit number of
their bank, the amount of the debit, and the due date. Its
that simple! Once the database is established, the only component
that changes each billing cycle is the due date and perhaps the
monthly charge.
How safe are EFTs?
All EFTs are governed by the Federal
Reserve Banking System. Only pre-authorized transactions are allowed
to be processed. This is strictly enforced by the Federal Reserve.
Customers must authorize all EFT debits from their checking account
in writing.
How will I know that the information
sent to ETT Consulting has been received and processed?
The ETT Consulting software prints
several different reports for you. Both before and after the data
has been sent, you can print a report that documents your transaction.
ETT Consulting provides you with a status report the same
day that verifies all of the transaction information. You will
know within 24 to 48 hours if any of your customer transactions
failed to process due to insufficient funds or incorrect data
entries. Most banks take as long as two or more weeks to notify
businesses of insufficient funds on checks being processed. Clearly
ETT Consulting EFT services offers your business
a better alternative to processing checks for financial transactions.
How much will I pay for the EFT services
from ETT Consulting?
ETT Consulting bases its transaction
fees entirely on volume the more EFT transactions, the lower
your fee. One EFT transaction consists of one debit and one credit
of the same dollar amount. The fees do NOT vary by the amount
of the transaction. You pay the same amount for a $5 transaction
as you do for a $500,000 transaction. In nearly all cases, this
figure is less than the cost your business bears to process receivables,
payables and/or payroll transactions by checks."> <img src="http://www.profitjump.com/pic/nopic.gif" width=3 height=3 border=0 alt="electronic funds transfer eft ach service provider check representment rck
automated banking systems for small medium and large business EFT, Electronic
funds transfer, software, ach service, automated banking system, businesses,
ACH, payroll, accounts receivable, accounts payable, windows 95, windows 98, windows NT">
<font color=white size=-4>eft eft software electronic funds transfer payroll accounts,payable,receivable,payables,rck,direct
deposit,direct debit check representment,collections,ach,processing,nacha,eft
services automated transactions,automated clearing house,nacha ett consulting
eft for windows payments lockbox</font> <font color=white size=-4>eft eft software
electronic funds transfer payroll accounts payable, receivable payables rck direct
deposit direct debit check representment collections ach processing nacha eft
services automated transactions automated clearing house nacha ett consulting
eft for windows payments lockbox</font> <font color=white size=-4>What are Electronic
Fund Transfers or EFT’s? EFT’s process pre-authorized debits or credits from one
bank account to another within a 48 hour period to handle your company's payroll,
accounts receivable, accounts payable and/or NSF checks (RCK - returned checks).
This electronic computer based process requires the use of special licensed software
and a modem. All transactions are governed by the Federal Reserve Banking System.
For those of us familiar with ATM cards at gas station pumps and grocery store
check out lines, the concept of EFT’s continues to earn the confidence of consumers
and is therefore being applied in more and more settings. Over the past several
years, EFT’s have gained in popularity among businesses as well. Now any business,
regardless of size, can use EFT’s to conduct a variety of financial transactions.
What are the benefits of EFT’s? The benefits of EFT’s are many. For receivables,
benefits include prompt payment of your customer’s bills each month and early
notice of insufficient funds. You get your cash on time, every time. While there
is a small fee per transaction for this service, EFT’s eliminate the need to print,
process and send a monthly bill in many instances. This can save you as much as
$2.25 to $3.00 or more per customer. Thus, you could lower your costs for labor
to prepare statements as well as postage and the cost of paper used to print statements.
EFT’s also reduce late payments and the need to send out reminder notices. EFT’s
can actually increase your customer retention. This is most likely to occur in
businesses that bill the same amount on a month to month basis for ongoing services
such as pest control companies, newspapers, pool services, security companies
and the like. Having the fee automatically deducted from your customer’s checking
account increases the retention of those who might otherwise let the service lapse.
You can save hundreds, even thousands, of dollars on your billing and administrative
costs, dramatically improve your cash flow and eliminate many of your collection
hassles by using the EFT services. While you are saving money, your customers
benefit from EFT’s as well. With ETT Consulting, customers will no longer have
to worry about missing billing deadlines. Bills are paid even when your customers
are away from home. No more writing checks, no more postage, no more service charges
for checks and no more embarrassing second billing notices and late payments.
EFT is free to your customers and your customers will appreciate this value added
service. How does the EFT transfer process work? First you have your customers
sign a form that authorizes you to deduct their payment on a certain date. Your
customers provide you with a checking deposit slip to verify all account information.
Then you create the initial database. According to the billing cycle, the amount
of your customer’s bill is then automatically debited from their checking account
and deposited into your account. In the case of payroll, your account is debited
and your employee’s account is credited each pay period. Who inputs the information
into the computer? ETT Consulting provides the software and training to you so
you can download needed transaction information directly from your existing accounting
systems using the EFT for Windows ASCII format. This means no re-keying of data
which minimizes errors and expedites the process. Typically hundreds of transactions
can be downloaded and sent to ETT Consulting in a matter of minutes. How much
time is required to establish the initial EFT database? It only takes a few seconds
per customer to input name, bank account number, routing transit number of their
bank, the amount of the debit, and the due date. It’s that simple! Once the database
is established, the only component that changes each billing cycle is the due
date and perhaps the monthly charge. How safe are EFT’s? All EFT’s are governed
by the Federal Reserve Banking System. Only pre-authorized transactions are allowed
to be processed. This is strictly enforced by the Federal Reserve. Customers must
authorize all EFT debits from their checking account in writing. How will I know
that the information sent to ETT Consulting has been received and processed? The
ETT Consulting software prints several different reports for you. Both before
and after the data has been sent, you can print a report that documents your transaction.
ETT Consulting provides you with a status report the same day that verifies all
of the transaction information. You will know within 24 to 48 hours if any of
your customer transactions failed to process due to insufficient funds or incorrect
data entries. Most banks take as long as two or more weeks to notify businesses
of insufficient funds on checks being processed. Clearly ETT Consulting’s EFT
services offers your business a better alternative to processing checks for financial
transactions. How much will I pay for the EFT services from ETT Consulting? ETT
Consulting bases its transaction fees entirely on volume—the more EFT transactions,
the lower your fee. One EFT transaction consists of one debit and one credit of
the same dollar amount. The fees do NOT vary by the amount of the transaction.
You pay the same amount for a $5 transaction as you do for a $500,000 transaction.
In nearly all cases, this figure is less than the cost your business bears to
process receivables, payables and/or payroll transactions by checks. </font> <font color=white size=-4>Managing
the accounts payable process can prove costly. The challenge you face is managing
your cash flow without missing payments or incurring late charges. Just think
of what you could accomplish if you were able to make your payments precisely
on the invoice due dateno sooner and no later. This is difficult to achieve if
you're still depending upon the postal service to meet your invoice deadlines.
Well, now you can depend upon a much more reliable process that will make your
payments electronically. And it's only available to select ETT Consulting customers.
Electronic Fund Transfers or EFT's are most commonly used for Direct Deposit of
Payroll and Accounts Receivable functions. They are safe, convenient and very
cost effective. As this form of automated bill payment has become increasingly
popular with both businesses and consumers, more and more uses for this technology
are being found. Accounts Payable is one of those. Applying the Accounts Payable
function using an EFT is quite simple. You debit your own account and credit your
vendors' account on the due date. While every bank has the capability of processing
an EFT, few provide the customer service needed to support an Accounts Payable
function. ETT Consulting has both the software and the service commitment to make
the Accounts Payable function a successful part of an overall automated bill payment
process. Unlike the banks, ETT Consulting serves its clients by: · providing EFT
software to give you control over this process · using the EFT for Windows ASCII
format that allows direct downloads from your existing AP system WITHOUT re-keying
of data · processing a single transaction per vendor for multiple invoices. ETT
Consulting will work with you to tailor a process that lets you take advantage
of EFT technology for your AP function. By doing so, you can maximize your short
term investments which will offset the cost of this service many times over </font>
<img src="http://www.profitjump.com/pic/nopic.gif" width=3 height=3 border=0 alt="
Electronic
Fund Transfers Paid On Time, Every Time
What are Electronic Fund Transfers or
EFTs?
EFTs process pre-authorized debits
or credits from one bank account to another within a 48 hour period
to handle your company's payroll, accounts receivable, accounts
payable and/or NSF checks (RCK - returned checks). This electronic
computer based process requires the use of special licensed software
and a modem. All transactions are governed by the Federal Reserve
Banking System.
For those of us familiar with ATM cards
at gas station pumps and grocery store check out lines, the concept
of EFTs continues to earn the confidence of consumers and
is therefore being applied in more and more settings. Over the
past several years, EFTs have gained in popularity among
businesses as well. Now any business, regardless of size, can
use EFTs to conduct a variety of financial transactions.
What are the benefits of EFTs?
The benefits of EFTs are many. For
receivables, benefits include prompt payment of your customers
bills each month and early notice of insufficient funds. You get
your cash on time, every time. While there is a small fee per
transaction for this service, EFTs eliminate the need to
print, process and send a monthly bill in many instances. This
can save you as much as $2.25 to $3.00 or more per customer. Thus,
you could lower your costs for labor to prepare statements as
well as postage and the cost of paper used to print statements.
EFTs also reduce late payments and the need to send out
reminder notices.
EFTs can actually increase your customer
retention. This is most likely to occur in businesses that bill
the same amount on a month to month basis for ongoing services
such as pest control companies, newspapers, pool services, security
companies and the like. Having the fee automatically deducted
from your customers checking account increases the retention
of those who might otherwise let the service lapse.
You can save hundreds, even thousands, of
dollars on your billing and administrative costs, dramatically
improve your cash flow and eliminate many of your collection hassles
by using the EFT services.
While you are saving money, your customers
benefit from EFTs as well. With ETT Consulting, customers
will no longer have to worry about missing billing deadlines.
Bills are paid even when your customers are away from home. No
more writing checks, no more postage, no more service charges
for checks and no more embarrassing second billing notices and
late payments. EFT is free to your customers and your customers
will appreciate this value added service.
How does the EFT transfer process work?
First you have your customers sign a form
that authorizes you to deduct their payment on a certain date.
Your customers provide you with a checking deposit slip to verify
all account information. Then you create the initial database.
According to the billing cycle, the amount of your customers
bill is then automatically debited from their checking account
and deposited into your account. In the case of payroll, your
account is debited and your employees account is credited
each pay period.
Who inputs the information into the computer?
ETT Consulting provides the software
and training to you so you can download needed transaction information
directly from your existing accounting systems using the EFT for
Windows ASCII format. This means no re-keying of data which minimizes
errors and expedites the process. Typically hundreds of transactions
can be downloaded and sent to ETT Consulting in a matter
of minutes.
How much time is required to establish
the initial EFT database?
It only takes a few seconds per customer
to input name, bank account number, routing transit number of
their bank, the amount of the debit, and the due date. Its
that simple! Once the database is established, the only component
that changes each billing cycle is the due date and perhaps the
monthly charge.
How safe are EFTs?
All EFTs are governed by the Federal
Reserve Banking System. Only pre-authorized transactions are allowed
to be processed. This is strictly enforced by the Federal Reserve.
Customers must authorize all EFT debits from their checking account
in writing.
How will I know that the information
sent to ETT Consulting has been received and processed?
The ETT Consulting software prints
several different reports for you. Both before and after the data
has been sent, you can print a report that documents your transaction.
ETT Consulting provides you with a status report the same
day that verifies all of the transaction information. You will
know within 24 to 48 hours if any of your customer transactions
failed to process due to insufficient funds or incorrect data
entries. Most banks take as long as two or more weeks to notify
businesses of insufficient funds on checks being processed. Clearly
ETT Consulting EFT services offers your business
a better alternative to processing checks for financial transactions.
How much will I pay for the EFT services
from ETT Consulting?
ETT Consulting bases its transaction
fees entirely on volume the more EFT transactions, the lower
your fee. One EFT transaction consists of one debit and one credit
of the same dollar amount. The fees do NOT vary by the amount
of the transaction. You pay the same amount for a $5 transaction
as you do for a $500,000 transaction. In nearly all cases, this
figure is less than the cost your business bears to process receivables,
payables and/or payroll transactions by checks."> <img src="http://www.profitjump.com/pic/nopic.gif" width=3 height=3 border=0 alt="electronic funds transfer eft ach service provider check representment rck
automated banking systems for small medium and large business EFT, Electronic
funds transfer, software, ach service, automated banking system, businesses,
ACH, payroll, accounts receivable, accounts payable, windows 95, windows 98, windows NT">
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