Credit unions on the CU*BASE core processing platform can now automatically generate a payment advice email (with comments) to notify accounts payable vendors that a payment was made via ACH. Although paying vendors via ACH has been available for over three years, many credit unions did not want to hop on board unless an email notification could be sent along with the vendor payment. So far, eight credit unions have activated this feature since it was implemented two months ago.
New ACH accounts payable advice notices are the next big step for streamlining Accounts Payable departments. More improvements are in the works to not only the accounts payable system but for other accounting functions like subsidiary and ACH processing. Keegan Daniel, VP of Professional Services and manager of the Earnings Edge team said, “CU*Answers continues to build out its operational databases not only for improving overall workflow but also for providing analysis of the many functions that accounting/back office teams perform.”