The Finofo blog

The Automated Clearing House (ACH) network is a crucial component of the United States' payment rail system. Serving as an electronic fund-transfer system, ACH facilitates the movement of money between banks across the country. This article provides an overview of how ACH operates, its role in simplifying transactions like direct deposits and bill payments, and its significance in the broader context of US financial operations.

Are you a part of Canada's bustling manufacturing industry? If so, you're likely familiar with the unique cash flow challenges that come with the territory. From juggling global suppliers to keeping up with a mountain of invoices, let’s dive into what makes these financial hurdles particularly tricky for Canadian manufacturers and how they can be navigated.

Let's explore CERTIS, the backbone of the Czech payment infrastructure. We will discuss its features, benefits, limitations, and how businesses in the Czech Republic utilize this payment network.

In this article, we delve into BI-Fast, Indonesia's 24/7 instant payment system. We'll explore its key features, benefits, and how it is transforming financial transactions across the country. Discover how BI-Fast enhances payment speed, efficiency, and security, making it an essential component of Indonesia’s financial infrastructure.

Discover what virtual corporate cards are, how they differ from physical cards, and the pros and cons they offer. Learn why virtual cards provide enhanced security for financial management.

Navigating the global marketplace demands robust multicurrency accounting features. This article will guide you through adding vendors and tracking expenses in QuickBooks, Sage, and Xero, highlighting how these platforms can be leveraged to streamline your international financial dealings.

When it comes to managing business finances, the question of hidden costs in traditional payment methods like cheques is critical. Let's delve into the data to uncover the reality behind cheque payments and their impact on business operations.

Sage Group, the parent company behind Sage Accounting and Sage Intacct, is a global leader in software solutions for businesses. What is Sage Accounting? Sage Business Cloud Accounting is a software tailored for small businesses, startups, and self-employed individuals. It offers intuitive and simple solutions for managing finances, including invoicing, cash flow tracking, and compliance management.

Switching to multi-currency mode in QuickBooks is a straightforward process, designed to be user-friendly for businesses engaging in international transactions. QuickBooks provides excellent support to help customers make this transition smoothly, offering guidance through their customer service and comprehensive Knowledge Base resources.

The Bankers' Automated Clearing Services (BACS) is a cornerstone of the United Kingdom's financial infrastructure, facilitating electronic transactions across the nation. Established over five decades ago, BACS has evolved to become a key player in managing direct debits and credits, processing millions of transactions daily. This article explores the intricacies of BACS, its role in the UK's banking system, and how it continues to support a wide array of financial activities, from payroll processing to bill payments, reinforcing its position as an essential component of the UK's economic framework.

In the world of accounting software, choosing the right platform can be a pivotal decision for any business. This article offers a detailed comparison of Sage Intacct, Xero, and QuickBooks Online, focusing on their pricing structures and feature sets. We’ll delve into what each platform offers, helping you determine which software aligns best with your business needs and budget.

BSB codes are primarily used in Australia for transferring money to a bank account. In this article, we'll explain more about BSB codes and where to find them.