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Because check payments include not only the bank account number but also name and address, this payment method is not a recommended option. NACHA also requires businesses to take responsibility for reversals in the event of errors or duplicate transactions.
Difficulty in errorresolution: Without a properly documented and structured reconciliation process in place, it can be very difficult to resolve errors effectively. This would mean greater resource requirements and an increase in the probability of human manual errors.
The aim is to ensure accuracy and prevent errors or fraud before payment processing. Graph comparing invoice errorresolution time between top and bottom performers| Source Invoice validation is a complex process that can be hindered by various challenges. These include: 1. Manual receiving of invoices Nearly 49.7%
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