Small Business Payables & Receivables

Payables and Receivables

Whether you’re making payments or collecting the money you’re owed, efficiency is key for small businesses. The less time you spend on daily money management tasks, the more time you can devote to growing your business.

Our tools simplify the payables and receivables processes while helping you manage risk. Our payables tools make it easier to manage when and how you make payments. With receivables, our tools streamline the process to help you get paid faster — and improve your cash flow in the process.

Not sure which tools are right for your small business? We’re here to answer all your questions.

Express Deposit

Check deposits can be made directly from your business with Remote Deposit Capture. It’s a great tool for small businesses. You’ll be able to access your cash quickly, too — deposits sent to Northwest before 9 p.m. Monday through Friday are available the next business day. Express Deposit is simple and easy to use and connects seamlessly with your Northwest business checking account.

ACH Services

Northwest ACH provides a low-cost, flexible and reliable payment network for direct deposit of payroll and vendor payments to save you time. You can also initiate ACH debits for collection of receivables. ACH Block is available for fraud protection, and our Electronic Data Interchange (EDI) service provides reporting of all of your addenda on incoming ACH transactions.

Our ACH services enable your small business to:

• Save money on the cost of writing and delivering checks
• Offer direct deposits to employees
• Electronically receive ACH remittance addenda information 
• Experience faster collection of vendor payments 

EDI Reporting

Short on time? Our EDI reporting provides detailed incoming ACH addenda information to help you reconcile your payments. We offer both summary and detailed remittance reporting, so you can have the information you want when you need it.

Positive Pay

Our convenient, simple-to-use Positive Pay puts you in control of your disbursements to help protect your small business from fraud. For added peace of mind, the Northwest Online Banking system allows you to monitor checks and ACH transactions on a daily basis.

Wire Transfer Services

Need to send or receive money from across the country or around the world? Our wire transfer service is simple and secure. Plus, your transfer will happen almost immediately.

Business Debit Card

Tracking your small business expenses just got easier. Our business debit card works just like a check, but it’s faster and simpler. Purchases are deducted directly from the business checking account linked to your card which allows for more accurate, clearer expense tracking. Plus, you’ll enjoy these other advantages:

• Accepted at more places than traditional business checks — anywhere Visa® is accepted
• Free banking at more than 55,000 ATMs in the Allpoint® network
• Cash and check deposits can be made 24/7 at Northwest Automatic Deposit ATMs (available in certain locations)

Merchant Services Powered by Clover

It’s important for small businesses to have the ability to adapt quickly. Northwest Bank offers a variety of payment processing systems to meet the changing demands of your business, including:

In-store: Ensure that every customer who walks through your door has a seamless, convenient buying experience no matter how they choose to pay.

Online: Make your goods and services accessible to more customers with our fast, secure online payment options.

Mobile: Accept payments quickly, easily and securely on your iPhone, iPad, Android, or Android tablet.

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Lockbox Services

Let us focus on processing your payments, so you can focus on other important matters. Our Lockbox Services offer a convenient way to collect payments from your customers—and streamline your daily accounts receivable process. 

Retail and wholesale payments are mailed to your lockbox, picked up daily by Northwest, and deposited directly to your business checking account. Detailed reports providing payment information are available for easy import to your accounts receivable system.

Lockbox Services allows you to:

• Eliminate the time-consuming manual process of posting accounts receivable
• Make fewer trips to the bank
• Gain access to reports that are available in many formats, and can be customized to automatically update your accounts receivable system
• Have your retail and wholesale lockbox payments sent directly to the bank to minimize the risk of internal fraud losses