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September 21, 2006
Accounts Receivable
Accounts Receivable Conversion (ARC) converts payments to electronic transactions that are processed through a network. ARC is also called check conversion because billing companies use ARC to read a customer's check and convert it into an electronic payment through an automated clearinghouse (ACH). This guarantees that a company will no longer need to deposit or deliver your money to the bank, because it done automatically. It also means that a company worries less about checks that won't clear and fraud. Currently, electronic conversions involve about 35 billion checks written each year. But according to NACHA, an electronic trade association, 1.25 billion consumer checks were converted to ARC
From Accounts Receivable
Posted by Murray at September 21, 2006 05:58 PM
