Chapter 12: Collecting Payments
If you’re accepting larger payments ($5,000+), whether for a high ticket item or more commonly, billing a company for some type of service, ACH Direct Deposit is the best option for accepting payments. ACH can usually be set up and paid online super easily by the company you are billing, and most companies use it already to pay employees or other service providers. All a company or a client needs to send you money via ACH is the name on your company bank account (“Company Name LLC”), the account number, and the routing number. ACH Direct Deposit essentially works as if whoever you’re billing is depositing money directly into your account, and the funds typically take about 1-2 business days to transfer. Wells Fargo has an easy one page form for setting up ACH you can check out here, although the process is generally the same for all banks.
ACH is how my digital marketing company has always billed clients, and it’s much cleaner than dealing with checks in the mail every month.