New same-day settlement rules mean faster funds — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

New same-day settlement rules mean faster funds

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in Office Management,Payroll Management

NACHA—the electronic banking organization that makes direct deposit and other electronic transactions possible—has revised its rules to allow for same-day settlement of electronic transactions, including payroll.

Benefit for HR: Now you can pay terminating employees electronically instead of having to cut a paper check.

To help accounting staff understand how the new rules work, point them to www.nacha.org/content/same-day-ach.

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