Accounts Receivable Conversion! A Major Money & Time Saver For Companies


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Home \| Business \| Corporate Accounts Receivable Conversion! A Major Money & Time Saver For Companies By: Paul Donihue The Check 21 Law that went into affect in 2004 can make life so much easier for your company. If you receive consumer checks, vendor checks, business checks, government checks, virtually any kind of check drawn on a US bank, you can now do from the convenience of your companys' location (or remote location) the same thing that only the top 5 or so banks are now doing for their customers. What is it? Accounts Receivable Conversion! Because of 9/11 and the fact that billions of dollars in checks were stranded on the ground when the airplanes were all grounded, Congress passed a law that went into affect in Oct 2004 that would allow for image conversion of checks for companies and banks. Your companies AR dept can now image the checks and send them to the Fed and into the company's bank account and NEVER leave the office. There are two major ways to accomplish this that are available today. One is the use of a document imaging terminal, and a software program installed on your computer. The other utilizes a document imaging terminal, a computer, and Internet access to secure servers off location, with no software to buy. Accounts Receivable Conversion (ARC) can reduce hours of work and time in preparing deposits. No longer do you need to copy checks, enter them manually into your accounts receivable software, spend time looking up accounts, waste valuable time in filling out deposit slips and going to the bank or having an armored car service do it for you. Once you have completed the image process, you can actually import all your information into your particular accounting software. You can even do recurring billing in house, without outsourcing it with added expense. Companies i know have streamlined their Accounts Receivable Dept from a nightmare to a breeze. Major Result? They find huge savings in dollars, man hours, and wasted time trying to recoup NSF checks. Some solutions even allow for near elimination of contact with the customer over NSF checks, and substantial savings in the process. Projections are that within 10 years, 80% of mid to large size companies will be doing their accounts receivable conversion in house through ARC. Yours should definitely consider it. Article Source: http://www.articlekingpro.com Paul Donihue is President of a Business Financial Solutions Company in Ohio. One of the solutions they provide is Accounts Receivable Conversion. Web site at www.bedrockmerchants.com/ Please Rate this Article Not yet Rated Click the XML Icon Above to Receive Corporate Articles Via RSS! Additional Articles From - Home \| Business \| Corporate Asia Pacific is focus for RMMI growth - By : Yolanda Torrisi Expanding My Business To a New State - By : Nir Dotan Finding The Right International Shipping Company For A Smoother Relocation - By : Nir Dotan Importance of Business Education and Development amongst African-Americans - By : Paul Fitzgerald Guides for Corporate Event Planning in Baltimore - By : Art Gib Step by Step Corporate Relocation - By : Nir Dotan Joint Venture Agreements and What They Can Do For Your Business - By : Mark Warner Legal compliance for doing business in india / setup business in India Part 1 - By : Ashish Ahuja Power Purchase Agreements In The Energy Industry - By : Mark Warner Dispelling The Myth Behind Team Building - By : Shaun Parker	Sign Up for a free Article King Pro account or learn more. Submit Articles Member Login Top Authors Most Popular Articles Submission Guidelines Ezine Notifications Article RSS Feeds About Us Link to Us Contact Us Copyright & DMCA Privacy Policy Terms of Service This Website is Optimized for Firefox! Browse the Web Faster with Firefox for FREE! Most Recent Articles Asia Pacific is focus for RMMI growth - By : Yolanda Torrisi Expanding My Business To a New State - By : Nir Dotan Finding The Right International Shipping Company For A Smoother Relocation - By : Nir Dotan Importance of Business Education and Development amongst African-Americans - By : Paul Fitzgerald Guides for Corporate Event Planning in Baltimore - By : Art Gib Step by Step Corporate Relocation - By : Nir Dotan Joint Venture Agreements and What They Can Do For Your Business - By : Mark Warner Legal compliance for doing business in india / setup business in India Part 1 - By : Ashish Ahuja Power Purchase Agreements In The Energy Industry - By : Mark Warner Dispelling The Myth Behind Team Building - By : Shaun Parker