Self-Study Course Details
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. Savvy organizations recognize the cost-savings and efficiencies associated with ACH payment programs. 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

  • Identify the reasons why paying electronically benefits an organization
  • Pinpoint issues to be considered when setting up an electronic payment program
  • Recognize how to create a basic ACH payment program for an organization
  • Discover how to build an effective strategy for converting suppliers to the program
  • Identify effective strategies to grow your ACH payment program
  • Recognize how to develop an effective strategy for converting suppliers to the program
  • Understand the different types of payment fraud currently being perpetrated
  • Identify how to develop an effective strategy to combat electronic payment fraud
  • Recognize how to develop a Best Practice ACH payment initiative
  • Discover how to avoid worst practices as well as hidden pitfalls when setting up an ACH payment program
  • Recognize how to develop solutions to deliver remittance data to suppliers Understand how Instant Payments Work
  • Identify how to develop a best practice approach to using wire transfers
  • Identify instances where ACH payments can be used in place of costly wire transfers
  • Understand the new Instant Payment offering from the Federal Reserve Banks, FedNow
  • Discover how to develop a fraud protection plan to prevent criminals from defrauding you using your Zelle account
Learning Objectives
  • Refer to the course description for the learning objectives.
Prerequisites
  • None
Advanced Preparation

None

Author Details
  • Mary Schaeffer
    Mary Schaeffer

    Mary S. Schaeffer is the founder of AP Now, a B2B learning and information company focused on creating business intelligence around the accounts payable and payment functions. She has written 18 business books, created a number of CPE self-study courses, customized training and online training events. Schaeffer is a frequent and popular speaker at both online and live events. Previously she held positions as an Assistant Treasurer for the Equitable Life Assurance Society, a Financial Risk Manager for O&Y and a Corporate Cash Manager for Continental Grain. She has an MBA in Finance from NYU and a BS in Mathematics from York College (CUNY).

NASBA Sponsor
  • National Registry of CPE Sponsors for the QAS self-study delivery method
    Encoursa is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.

$45.00

CPE
  • Webinars: CPE certificates will be accessible through your dashboard 1 hour after a webinar concludes.

    Self-Study: CPE certificates will be accessible through your dashboard immediately after passing the qualified assessment.

    For specific instructions on accessing your CPE, please see our FAQ section on our support page.

  • Multiple Attendees on Webinars: Each attendee should register separately for the webinar. If more than 1 attendee participated from the same device, please contact us after the event to let us know. For group signups for paid events, please contact us.

Sign Up For Our All-Access Pass:

Unlimited Access

12+ unique premium webinars each month and 590+ hours of on-demand self-study courses.

Save Time

CPE should be about learning, not wasting time searching all over for the right training.

Save Money

Complete your CPE requirements at one affordable price.

On-the-Go Learning

Learn at your own pace from your computer, tablet, or mobile device.