Instead of distributing paper checks, you can easily set up your employees as vendors with Rippe & Kingston's LMSV in order for expense reimbursement to go through ACH processing.
With ACH, you can automatically transfer a payment directly to a vendor’s (i.e., an employee’s) bank account. This process would eliminate the need for printing and distributing checks, and it offers conveninece to the employees as well. They no longer have to make extra trips to the bank.
Functionality & Features of ACH include:
- A/P banks can be utilized for disbursements via ACH processing as a Payment Type (ACH, Check, or Wire) and vendors can be assigned a default Payment Type
- Check Selections will request the Payment Type
- An ACH selection will create a file for uploading to your bank
- Bank designees can receive check registers via email
- Vendors (i.e., employees) can receive payment processing notifications via email
