DIGITAL CASH MANAGEMENT

The management of the Association’s cash is virtually paperless as assessment payments are sent directly to the association’s bank lockbox for deposit using either paper checks, e-checks, online Bill Pay, direct debit or credit cards.

On the accounts payable side, Merit again leads the way using an online authorization and payment solution that allows authorizing Board members to approve and digitally sign your vendors’ checks, which will go out by the next business day. It is conceivable that your vendors could get paid the same day their invoices are approved if they choose direct deposit into their bank accounts.