ACH Automated Clearing House File Export from Macola
Automated Clearing House (ACH) is an automated payment clearing facility for electronic funds transfer (EFT). It is a commonly used network that provides a secure payment transfer system for businesses.
Much like regular Electronic Funds Transfer (EFT) and Electronic Data Interchange (EDI), information files must be uploaded to the bank in a specific format.
Harvest Ventures has developed an ACH Export utility that will export the Macola or Progression data in the required format for ACH payment processing. Export files can be generated from Accounts Payable (AP) cheque runs and also from Excel spreadsheets.
This utility supports:
- multiple banks
- multiple layouts/formats
- various outputs (purchase cards, ACH output, etc.)
ACH payment processing often provides businesses with quicker access to funds and can be a less expensive payment method compared to paper cheques and credit cards.