Guide to Electronic Payments

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.
Format

PDF Course

Level

Overview

Duration

1 Hour

Related Courses
Cash Management
Payables Management

Course Information

Author: Steven Bragg
Course Number: FN1034

Learning Objectives
  • 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.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Finance
Prerequisites: None
Advance Preparation: None
Latest Review Date: October 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. 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 the 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: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.