Our payables solutions give you the technology and information you need to improve the efficiency and security of your payables operations. Our specialists consult with you to package a solution that meets your needs now and that will evolve as your business challenges grow.
|Controlled Disbursements||With Controlled Disbursement, First Commonwealth will provide early morning notification (usually by 9:45 a.m.) about the checks that will be charged against your Controlled Disbursement Account, including the exact amount needed to fund the account. Funding your disbursement account(s) on a same day basis enables you to maintain your disbursement account(s) at a zero balance, allowing excess funds to be used for investment or debt reduction opportunities.|
|Account Reconcilement||Simplify your reconcilement process with First Commonwealth's Account Reconcilement service. With Account Reconcilement cleared checks are compared to a checks issued file that you submit to the Bank. Detailed reconcilement reports will then be delivered to you through eCash Reporter, First Commonwealth's internet-based balance reporting and transaction initiation system. These reports list all checks paid during a given statement period, as well as details relative to all outstanding checks and any exception items.|
|Disbursement Image||Reduce operational expenses and improve customer service with Disbursement Image. With this service, images (front and back!) of your Controlled Disbursement checks can be made available to you via CD-ROM, electronic transmission, or eCash Reporter, First Commonwealth's internet-based balance reporting and transaction initiation system.|
|Positive Pay||Combat check fraud with Positive Pay. With this service, First Commonwealth matches check serial numbers and dollar amounts of checks presented for payment against a check issue file supplied by you, and pays only those checks that match. Unmatched items are flagged as potentially fraudulent, compiled into detailed reports and delivered to you via eCash Reporter whereby you can make "pay/no pay" decisions on each item. End of day transmissions documenting all paid and returned items are available as well so that you can update your accounts payable, general ledger and online inquiry systems on a daily basis.|
|Positive Payee||This service mitigates fraud even further by detecting material alterations to a check's payee name. Used in conjunction with Positive Pay and Check Image, Positive Payee gives you the tools you need to detect and mitigate check fraud.|
|Zero Balance Account||
Automatically concentrates daily deposit and disbursement activities from your divisional subsidiary accounts into a master account
Helps users achieve optimal use of funds by maintaining either a zero or predetermined target balance in each subsidiary account
Available in a multi-tier option
With First Commonwealth's Direct Deposit of Payroll service, you can automatically deposit your employees' net pay into their personal accounts - regardless of where their deposit accounts are held.
Reduce the costs, time and errors associated with manual payroll check preparation, such as signing, handling, reconciling, storing, and distribution. We do the work for you!
Eliminate the risk of lost payroll checks.
Eliminate the need for your employees to deposit payroll checks at their banks.