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.
  • None
Advanced Preparation


Author Details
  • Mary Schaeffer
    Mary Schaeffer

    Mary Schaeffer, AP Now’s Founder creates content around the accounts payable and payment function. This material takes the form of a twice-a-week free ezine, the AP Now podcast and YouTube channel with 500+ videos, a monthly newsletter, 20+ business books, a variety of courses for accountants and AP professionals, and numerous webinars. She served on the Business Payments Coalition and Federal Reserve’s Remittance Delivery Assessment Work Group, and is currently a member of Nacha’s ACH Network Advisory Panel. Schaeffer has been named a Top AP Influencer for the last five years. She also received the Well-Being for Others award from them in 2021 and was named the Top AP Influencer in 2022. She has a BS in Mathematics and an MBA in Finance. Before founding AP Now, she worked in corporate finance and treasury for Continental Grain (Cash Manager) Equitable Life, now AXA (Assistant Treasurer) and O&Y (Financial Risk Manager). 

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:


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