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  • Payment Identification Problem

    updated 2 years, 7 months ago 0 Member · 1 Post
  • Jessica

    Member
    February 13, 2020 at 4:03 pm

    Hello everyone, At my company, we are currently having an issue with payment identification. We receive money through ACH/Wire Transfers from hundreds of different sources for a multitude of different reasons. When we process these payments through our system, we take our fee as the middle-man, and send the rest to our clients. We are trying to figure out a better system in identifying the payments that are coming in, so that we can send them to the correct client. Currently, it is all being tracked manually where we receive emails with different remittances and payment details and then connect them with the payments we receive with which clients they are supposed to be sent to. There are plenty of occasions where we receive funds without any payment details and then have to figure out where they came from or what they were paying for so that we can send it to the correct client. HyperWallet right now seems like the best solution for this as it allows us to have different accounts that these sources of funds could flood into, however it’s reporting functionality isn’t ideal. Does anyone know of a better alternative to our situation? – by /hq/Brianstormed – –

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