Tag: processing

Great Plains Sales Order Processing and Invoicing Modules Tips for consultant

Microsoft Great Plains – main Microsoft Business Solutions application for US and Latin American (except Brazil, where MBS promotes Navision) markets is built with multiple modules. In the case of Sales automation you – software selection specialist should consider two Microsoft Great Plains modules: Sales Order Processing (SOP) and Invoicing. You should understand the difference between the two and see which one is the best fit for your company. Let’s consider two modules SOP and Invoicing. We’ll give you non formal view, based on our consulting practice.

How to Start an Online Bankruptcy Forms Processing Service

Due to the dramatic increase in technology, business professionals now have the ability to outsource their skills and earn extra money working from home as a bankruptcy forms processor. Unlike an attorney or notary public, a bankruptcy forms processor does not have jurisdictional limits. In other words, a bankruptcy forms processor could live in Yellow Springs, Ohio and prepare bankruptcy petitions, pleadings, Motions and other court documents for attorneys practicing in California, New York or any other U.S. state.

New Processing Cuts “Float” Time on Payments

If you’ve counted on those few extra days from the time you write a check to a utility company and the time the check clears your bank, beware.

Several of the nation’s largest banks are now shifting from the traditional method of processing checks to a new electronic process. The new process will shave off a day or more from the traditional process it normally takes for your check to clear.

The Changing Face Of Payment Processing

Since the introduction of magnetic ink character recognition (MICR) technology in the mid-1950s, businesses and consumers alike increasingly have chosen to pay bills by check. In 1999, 70 billion checks were written in the United States, accounting for 73 percent of all non-cash transactions. Of the total, 56 percent, or 39.2 billion, were written by consumers. Businesses wrote 28.7 billion, or 41 percent and government, 2.1 billion, or three percent. The United States Postal service earned 25 percent of its year’s revenues from the delivery of checks. (Hence, the phrase: “The check is in the mail.”) Banks generated $60 billion in revenues from checking accounts, according to the Check Payment Systems Association.

Credit Card Processing Vendors

Gain Understanding
To gain an understanding of how different vendors make payment transactions, we must first figure out how credit cards were originally designed to work. Before anyone even thought of ecommerce, or even EDI became widespread in commercial uses, credit cards were created. However, they did not have a magnetic strip to store information, so all credit card purchases were called in, and a carbon copy of the card was made. With advances in technology, the magnetic strip was added, so merchants could submit customer card information electronically, and quickly get back approval numbers, which were then sent to the bank on carbon copies of the cards. The introduction of the internet and standard EDI for merchant to bank credit card authorizations cut out this step, so now your purchase goes to your creditor, and money is transferred to the merchant’s bank, in only a few seconds.

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