Guide to Electronic Payments

1 Credits: Finance


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Guide to Electronic Payments

Course Level
CPE Credits

1 Credits: Finance

Course Description

Electronic payments can be more cost-effective than traditional check payments, but also have their own issues. In the Guide to Electronic Payments course, we explore the various electronic payment systems, including ACH, wire transfers, FedNow, Venmo, Xoom, and Zelle. We also delve into the controls needed for these payment systems, and discuss how to most effectively convert from check payments to electronic payments.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the characteristics of the various electronic payment systems.
  • Specify the circumstances under which a wire transfer should be used.
  • Recall the reasons why electronic payments are more cost-effective than checks.
  • Specify the various controls needed for an electronic payment system.
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Course Specifics

Course ID
Revision Date
February 9, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

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)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …