Receivable Services

Electronic payments and collections via the Automated Clearing House (ACH) are the best way to streamline payables and receivables and reduce your costs of collecting and receiving payments. Our ACH service offers a host of cash flow benefits, including reduced payment costs, better control of payment timing, greater payment reliability and more accurate cash forecasting. The most common ACH applications include:

• Payroll direct deposit
• Pre-authorized debits and credits
• Vendor payments
• Cash concentration and disbursement
• State and federal electronic tax payments

Many incoming ACH payments now contain additional information that's vital to the receivables posting process. Our EDI service will translate this information into a format allowing your staff to appropriately apply these payments to your A/R systems.

Our lockbox service streamlines your receivables process by adding efficiency to your business operations and improving your cash flow. Payments by check are delivered directly to the lockbox, along with other related documents, processed on your behalf, and are deposited directly to your business account. Your team will have online access to view images of the items and documents along with the option to retrieve reports.

This account management service lets you establish a master operating account with one or more sub accounts for specific purposes. Create a ZBA for both payables and receivables to make your reconcilement process more efficient and segregate certain types of transactions. Some common uses for ZBAs are payroll, credit card, T&E (Taxes & Escrow), wire accounting and many others.

With Paducah Bank’s eCaptureIt service, you don’t have to leave your office to make a deposit. We provide you with a special scanner to capture check images and safely transmit your deposit to Paducah Bank for processing. All you need is a computer and a secure internet connection. You'll receive faster access to funds and improved cash flow. No driving. No delays.

• Enable your corporate office to see deposits being submitted from multiple store locations
• Provide faster funds availability with extended processing and deposit cutoff times
• Eliminate geographical boundaries
• Reduce fraud risk by identifying return items faster
• Lower transportation expenses and risk as deposits can be made without ever leaving the office
• Get next-day funding for deposits submitted by 4:45 p.m. central time