Other common return reasons include closed accounts and insufficient funds in the originating account holder’s account. First, suspend any recurring payments scheduled with this retained earnings balance sheet bank account. Second, contact your customer and resolve any issues that caused the authorization to be revoked. What happens if an ACH payment is returned? There are, however, likely to be times when a transaction doesn’t work as expected, perhaps due to incorrect coding or insufficient funds. Successful ACH debit transactions can […]
Economic and political decisions can have serious consequences on the construction industry. Things like suppliers, labor, and leased equipment are considered direct expenses. Repair to equipment, transportation, and other expenses are examples of indirect costs. This helps you catch discrepancies early, understand your financial health, and make informed decisions about your business’s future. Regular reviews also prepare you for unexpected audits and help you see overall your financial trajectory, so you can strategize and plan for upcoming projects more effectively. […]