ACH: How to Enable/Disable

Eddie Davis -

FINSYNC is unique in that it has its own payments module and makes use of the Automated Clearing House transfer platform for bank-to-bank transactions in the United States. "ACH" is the common abbreviation for this type of transfer.


Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches.

  • ACH credit transfers include direct deposit, payroll and vendor payments.
  • ACH debit transfers include consumer payments on insurance, mortgage, and other kinds of bills.

Note: The ability to make transfers via ACH is an optional, paid service (See Pricing).  

Enabling ACH is easy. Follow these steps:

1)  Log in to FINSYNC.

2)  Select Settings in the upper right, then select Banking on the left.

3)  Select one of your existing bank accounts or create a new account.

4)  Whether you select an existing account or create a new one, you will see a set of fields for recording your bank account details.

ACHfields.jpg

5)  Provide the following details about the bank account.

  • Name on Bank Account: The personal or business name under which the account is held
  • Bank Name: The commercial name of the bank
  • Routing Number: A number unique to your bank, which is found on your checks.
  • Account Number: A number unique to your account within that bank, which is found on your checks.
  • Reference Name: How the account should appear within FINSYNC

6)  Scroll further down on the page (for existing accounts) or select Settings after creating a new account to select the default bank accounts to be used when receiving payments, sending payments, funding payroll, and/or paying your FINSYNC subscription. Only ACH-enabled bank accounts are available for selection.

7)  Select Save Changes at the bottom of the page.

By filling out this information, you enable an account for ACH.  You can then accept payment to the account through invoices sent to your customers, or make bill payments from the account.

All Finished!

 


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For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)


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