QAS Self-Study
Overview
CPE Credits
4 Credits: Accounting
Course Description
Electronic payments are fast becoming the preferred method of payment for best-practice companies. The COVID crisis shined a light onto the inefficiencies of making paper payments. While many professionals were well aware that paper checks were expensive and used valuable human resources, this detail was often swept under the rug. With an increasingly remote workforce, feigning ignorance no longer works. Ss organizations recognize the cost-savings and efficiencies associated with ACH payment programs, they are starting to change. This will only continue with the introduction of Real Time payments. This course presents basic information the professional can use to properly set up and grow and ACH payment program, understand when to use more costly wire transfers and how to use Instant Payments. 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 is at risk,” she warns.
Learning Objectives
Learning Objectives:
After Completing this Course, you will be able to:
- Identify the reasons why paying electronically benefits an organization
- Pinpoint issues to be considered when setting up an electronic payment program
- Create a basic ACH payment program for an organization
- Build an effective strategy for converting suppliers to the program
- Identify effective strategies to grow your ACH payment program
- Develop an effective strategy for converting suppliers to the program
- Understand the different types of payment fraud currently being perpetrated
- Develop an effective strategy to combat electronic payment fraud
- Develop a Best Practice ACH payment initiative
- Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
- Develop solutions to deliver remittance data to suppliers
- Understand the work done by the Federal Reserve and the Business Payment Coalition to address the remittance issue
- Develop a best practice approach to using wire transfers
- Integrate fraud detection techniques into everyday procedures for making payments
- Identify instances where ACH payments can be used in place of costly wire transfers
- Understand how Instant Payments Work
- Develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account
Course Specifics
|
Course ID 1223015108 |
Revision Date October 13, 2022 |
Number of Pages 74 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. Armed with a degree in math and a graduate degree in finance, she takes a “roll up your sleeves and dig into the details” approach to finding solutions to those problems that cause migraines for CFOs, controllers, and managers. Fifteen years spent researching and writing about payment issues gives Mary a unique vantage point. Combine that with an almost equal amount of time spent in the corporate trenches of several large finance and treasury departments, and you’ll understand …
An Electronic Payment Primer: How Savvy Companies Now Pay Their Bills (ACH, Wires & Instant Payment)
$116.00 – $136.00
QAS Self-Study
Overview
CPE Credits
4 Credits: Accounting
Course Description
Electronic payments are fast becoming the preferred method of payment for best-practice companies. The COVID crisis shined a light onto the inefficiencies of making paper payments. While many professionals were well aware that paper checks were expensive and used valuable human resources, this detail was often swept under the rug. With an increasingly remote workforce, feigning ignorance no longer works. Ss organizations recognize the cost-savings and efficiencies associated with ACH payment programs, they are starting to change. This will only continue with the introduction of Real Time payments. This course presents basic information the professional can use to properly set up and grow and ACH payment program, understand when to use more costly wire transfers and how to use Instant Payments. 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 is at risk,” she warns.
Learning Objectives
Learning Objectives:
After Completing this Course, you will be able to:
- Identify the reasons why paying electronically benefits an organization
- Pinpoint issues to be considered when setting up an electronic payment program
- Create a basic ACH payment program for an organization
- Build an effective strategy for converting suppliers to the program
- Identify effective strategies to grow your ACH payment program
- Develop an effective strategy for converting suppliers to the program
- Understand the different types of payment fraud currently being perpetrated
- Develop an effective strategy to combat electronic payment fraud
- Develop a Best Practice ACH payment initiative
- Avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
- Develop solutions to deliver remittance data to suppliers
- Understand the work done by the Federal Reserve and the Business Payment Coalition to address the remittance issue
- Develop a best practice approach to using wire transfers
- Integrate fraud detection techniques into everyday procedures for making payments
- Identify instances where ACH payments can be used in place of costly wire transfers
- Understand how Instant Payments Work
- Develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account
Course Specifics
|
Course ID 1223015108 |
Revision Date October 13, 2022 |
Number of Pages 74 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
Course Instructor
Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. Armed with a degree in math and a graduate degree in finance, she takes a “roll up your sleeves and dig into the details” approach to finding solutions to those problems that cause migraines for CFOs, controllers, and managers. Fifteen years spent researching and writing about payment issues gives Mary a unique vantage point. Combine that with an almost equal amount of time spent in the corporate trenches of several large finance and treasury departments, and you’ll understand …
An Electronic Payment Primer: How Savvy Companies Now Pay Their Bills (ACH, Wires & Instant Payment)
$116.00 – $136.00