This ACH Payment Process Policy, written by Erik Eckel for TechRepublic Premium, describes the procedures an organization and its representatives must use when paying any approved invoice from authorized vendors, suppliers, consultants, contractors, government agencies, or other authorized products, services or tax authorities via a manual electronic payment.

This policy can be customized to fit the requirements of your organization.

Featured text from the policy:

Upon receiving an outbound ACH payment request and Outbound ACH/electronic payment request form from an authorized executive for an approved invoice from an authorized vendor, the accounts payable department then completes the following steps to properly process any corresponding outbound electronic payment:

1. The accounts payable coordinator confirms the intended vendor or government agency is, in fact, an authorized company or government agency with which the organization maintains a legitimate working relationship.

2. The accounts payable coordinator confirms with the director or above who initially requested the outbound electronic payment that the invoice payee, date, product/service description and/or tax or debit amount are correct.

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TIME SAVED: Crafting this content required 14 hours of dedicated writing, editing and research.