Many consider banks for handling their ACH for payroll processing because they trust their bank with other services from checking accounts to their credit line to direct wire transfers. ..

Two weeks ago, a major cloud human capital management (HCM) system went down for 9 hours. The outage lasted from 2pm to 11pm Eastern Time, during a large portion of daily processing time. Because this was pretty close to a worse case scenario, Cachet Financial Services stepped up to serve our clients and here is what they had to say. ..

According to the Federal Reserve, there has been a recent increase in fraudulent payment activity in the FedACH^® network. Unauthorized debits, including consumer bill payments and other larger dollar items possibly including ACH direct deposits for payroll, have been originated using Federal Reserve Bank routing transit numbers as the receiving institution. These debits have been returned through the normal ACH return process, using a “R03 – No Account/Unable to Locate Account” return reason code. ..

For employers on the East Coast and elsewhere in the Eastern Time Zone, Cachet Financial Services has kept your ACH payroll processing window open for processing direct deposits until 9pm. ..

The AICPA recently announced that the SSAE 18 standard will replace SSAE 16 effective for reports issued on or after May 1, 2017. ..