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Process
payments for purchases, receipts for sales, and salaries using Bankers’
Automated Clearing Services Ltd (BACS). BACS provides a method of
making corporate payments directly into bank or building society accounts.
Transfers are made automatically from data input to BACS by users
daily, weekly, monthly, or at other suitable intervals. BACS supports
data transfer by several methods, including telecommunications, 51/4"
diskette and 1/2" tape.
The computers at BACS validate incoming files
of transactions and record their content. The individual transactions
are sent to the destination banks for posting to the appropriate accounts.
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Different payment types |
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Multiple payment media |
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Password security |
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Full financial integration |
Return to Modules
page
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