FINSYNC is unique in that it has its own payments module internally 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) Login to FINSYNC.
2) Click the "Banking" tab in the top nav.
3) Click the name of the account you wish to enable in the left nav.
4) Click the "Settings" button on the right.
5) Scroll down to the section titled "ACH Information" and fill out the fields for the bank account.
- Bank Name: [The commercial name of the bank]
- Routing Number: [A number unique to your bank] --> Found on your checks.
- Bank Account Number: [A number unique to your account within that bank] -->Found on your checks.
- Name on Account: [The name of your business that used when you opened the bank account]
- Checkboxes: Allow this account to be used by default for different services.
6) Click "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 that account through your invoices to your customers through the "Income" tab.
You can also use your ACH-enabled account to pay bills through the Expenses tab.
You May Also Be Interested In:
- ACH Timing
- Lockbox: Enable for Income
- How to Add Charge Card Option to Invoices
- How to Integrate Stripe Charge Card Processing
- Setting Up Credit Card Charges with Recurring Invoices
For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)