1.50 credits
Course Description
This QAS Self Study course provides an overview of the ACH payment process. The course is designed for all financial professionals to provide them with an overview of the ACH process. Almost three-quarters of all companies now make at least a few payments electronically using the ACH. Those numbers, along with the size of those programs will only grow as organizations recognize the cost-savings and efficiencies associated with an ACH payment program.
The course presents basic information the professional can use to properly set up and grow and ACH payment program. Industry expert Mary Schaeffer shows auditors, controllers, and managers exactly how to do this. She also alerts readers to the growing threat of fraud in this arena, offering advice for everyone – whether or not they are currently making electronic payments. “Everyone who does not take the proper precautions are at risk,” she warns.
Learning Objectives
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Objective 1
- Identify the reasons why paying electronically benefits an organization.
- Pinpoint issues to be considered when setting up an electronic payment program.
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Objective 2
- Create a basic ACH payment program for an organization.
- Build an effective strategy for converting suppliers to the program.
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Objective 3
- Identify effective strategies to grow your ACH payment program.
- Develop an effective strategy for converting suppliers to the program.
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Objective 4
- Understand the different types of payment fraud currently being perpetrated.
- Develop an effective strategy to combat electronic payment fraud.
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Objective 5
- Develop a Best Practice ACH payment initiative.
- Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program.
