“ACH” Posts

The True Cost of Paper Checks

The True Cost of Paper Checks

Since 1865, checks have played a pivotal role in the United States payment system. Checks were the only non-cash option for the first 100 years of its existence, until credit cards were introduced in the 1950s. As payment technology has evolved, the need for checks has diminished — but the costs have remained. Here are three ways paper checks could be costing your business more than you realize: Money – According to NACHA, it costs on average $1.22 to process a paper check, which accounts for manpower and various other costs. Overall, checks are “a burden on the economy,” according to…

Sycamore Education and PayJunction Provide Streamlined School Management

Sycamore Education and PayJunction Provide Streamlined School Management

Education providers, ranging from day cares to universities, have a variety of industry-specific needs. Teachers at elementary schools might need to access dietary and emergency contact information for their students, whereas administrators at a college might need to update course information for student registration. Luckily, there are software providers who remove tedious paperwork from the equation and make it efficient to store and access important school information. One such provider is Sycamore Education. With tailored services to cater to administrators, students, faculty, and parents, among others, Sycamore Education is the premier school management system and offers three distinct products: Sycamore…

How to Process ACH Payments With PayJunction

How to Process ACH Payments With PayJunction

Welcome to PJ University, where we teach you how to use PayJunction like a pro. Today’s lesson is how to process a check. After logging into PayJunction, the process page will automatically load; but if you happen to be on another page, just click “Process” from the menu on the left. On this page, select the “E-check” tab in the top menu. Enter the routing and account number on the check. Next, select the account type and transaction type. PPD is generally for personal transactions and CCD is for business transactions. Next, enter the action and amount followed by…

ACH Rejects: 4 Codes Business Owners Should Know

ACH Rejects: 4 Codes Business Owners Should Know

ACH offers many advantages over paper checks, including faster notification of acceptance or failure. That said, ACH reject codes still come days after the transaction is initiated — and sometimes incur an ACH reject fee — so it’s important to know how to resolve these rejects and provide the right information to your customers. To quickly rectify these rejects, it’s vital to familiarize yourself with the most common ACH rejects and how to solve them. 4 Reasons for ACH Rejects “R01 Insufficient Funds” means the available balance is not sufficient to cover the amount of the debit entry. After receiving…