Pre-authorized Debit

Use Acomba Pre-authorized Debit (PAD) and speed up the reception of customer payments.

By using pre-authorized debits for your customer accounts you:

• Receive payments on a regular basis for better cash-flow management
• Eliminate customer payment delays
• Reduce the time your staff spends on administrative tasks, such as opening the mail, sorting payments, reconciling accounts, preparing deposits, dealing with financial institutions and entering data
• Reduce operating costs associated with collection activities
• Ensure customer loyalty by building long-term relationships

In addition to improving your company's accounts receivable management, PAD also makes life easier for your customers by:

• Reducing cheque preparation and postal costs
• Ensuring that payments are on time, thus eliminating the risk of penalties
• Giving them the choice of bank account from which to withdraw payments

Operation

Given written consent, Pre-authorized Debit (PAD) allows you to debit customers' accounts for regular payments and to deposit these amounts directly in your account. No more waiting for cheques to arrive in the mail! A pre-authorized debit can be defined for a single invoice or for the long-term payment of a customer's account. Acomba PAD allows Accounts Receivable users to generate a pre-authorized debit file and transfer it to the financial institution according to methods prescribed by the Payments Canada.

Detailed features

• Preparation and electronic transmission of pre-authorized debit files for the transfer of funds from your customer's account into your own
• Authorization and control procedures
• Payment calendar management and payment history
• Upcoming payments management
• Fixed or variable amount pre-authorized debits
• Printing of customer notices for variable-amount PAD agreements