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ARC (Accounts Receivable Entry)
An ARC entry is a one time debit entry to the account of a receiver whom has previously been notified that their check (source document) will be...
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Surcharge
A surcharge is an extra fee that’s added to the regular total amount.
Related Terms
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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...
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