Banking

Difference Between ACH and Swift

What is ACH? The Automated Clearing House (ACH) is a monetary network that facilitates online payments and bank transactions. Installments sometimes referred to those as “direct payments,” are a method of transferring funds from one bank account to another without the need for paper checks, bank card systems, electronic payments, or currency. Clients who engage a company …

Difference Between ACH and Swift Read More »

Difference Between ACH and RTGS

What is ACH? During  the 1970s, the United Nations of America devised a billing system based on an interconnected network to enable fast payment while drastically reducing the need for paper checks and invoices. The technique was gradually adopted by other economies and evolved into an electronically aided settlement mechanism. The ACH  stands for Automated Clearing House, also …

Difference Between ACH and RTGS Read More »

Difference Between Accounts Payable and General Ledger

What is Accounts Payable? In every organisation, Accounts Payable is a standard transaction that takes place. Regular payment for goods, raw materials, and services are not possible in large corporations because of the nature of their operations. All of these payments are made following the organisation’s billing schedule. Generally speaking, Accounts Payable in General Ledger …

Difference Between Accounts Payable and General Ledger Read More »