In Striven, there are two payment options available for Bills: Check and Credit Card. Many users find themselves needing to record ACH/Wire or Cash payments, and are unsure how to do so. Recording ACH/Wire and Cash payments using the available Check option is an easy solution. Here’s why:
- Wire and ACH payments: Even though Wire and ACH payments are not explicitly listed as payment options, they are ultimately still coming from the user’s bank account. Therefore, using the Check option makes sense as it represents a payment originating from a bank account.
- Cash payments: To record a Cash payment, users should create a GL Account for Cash and then create a Check using that account. This allows them to track cash transactions effectively.
Wire/ACH and Cash payments originate from a bank account, so the Check option allows users to accurately record these payments in Striven.
When using the Check option to record a Wire/ACH or Cash payment, use the “Check #” field to identify the type of payment being created instead of using a check number. See below for an example.
By understanding the versatility of the Check option, users can accurately record all types of payments in Striven, ensuring comprehensive financial management.
For any additional questions regarding Bill Payments, feel free to contact our Striven Support team. 