What is Disbursement, and 4 Benefits You Need to Know
What is Disbursement, and 4 Benefits You Need to Know
If you've been involved in online business for a long time, you may be familiar with the term disbursement. However, for newcomers or those currently engaged in it, they may have just heard the term. If translated into Indonesian, disbursement means pembayaran.
When entering the banking world, this term may have a different meaning or imply something else. One example is cash disbursement. When translated, it becomes transaksi tunai which refers to transactions carried out immediately.
In online business, understanding disbursement is crucial for entrepreneurs. There are many types, benefits to be gained, and its importance for both current and future businesses. To learn more, please read the article below to the end.
Definition of Disbursement
Generally, disbursement is a payment tool. However, when looking at its usage in business, this payment tool is more specific to the field of accounting. In practice, this payment tool can be referred to as fund disbursement from a bank account. Therefore, it's not surprising that disbursement is also referred to as cash, financing, or spending.
Types of Disbursement Activities
Source: freepik.com There are three types of disbursement activities that you need to know:
- Cash Disbursement
The first type of activity is only intended for transactions with minimal fund amounts, usually taken from cash funds. - Cash Disbursement Journal
In this type of activity, only cash payments can be recorded. Journal recording can only be done and accessed through digital services or applications. - Cash Receipt Journal
Meanwhile, in the third type of activity, only cash payments received by the business are recorded. For example: receiving interest or dividend payments.
Benefits of Disbursement
Source: freepik.com After understanding the definition and types of activities, you also need to know the benefits of disbursement:
- Faster and Easier Transactions
Several digital payment services provide convenience for both businesses and consumers. These services are not only easy but also fast and cost-effective, especially disbursement.
Transfers between the same bank accounts do not incur any fees, but if transferring between different bank accounts, there is a fee charged to the consumer. As a business owner, you will incur significant costs when transferring to different accounts.
Therefore, disbursement addresses this issue. Businesses can transfer funds quickly, easily, and cost-effectively.
- Transparent Costs
When using disbursement services, one thing you need to know is that you can make payments without any hidden fees. There is a free facility for setup fees, and fees are only charged to users if the transaction is successful.
- Ability to Send Funds to Multiple Accounts
One efficient aspect of using disbursement is the ability to send funds to many accounts. You only need to access the available dashboard to perform transactions. As long as the service functions properly, consumer needs can be accommodated.
- Safe for Everyone
What makes businesses implement disbursement services in their business? The answer is security. A robust system makes the service secure. You only need the account name, account number, recipient bank's bank code, and reference to send a certain amount of funds.
Tips for Choosing Disbursement Services
After understanding its benefits, you need to know how to choose the right disbursement service:
- Choose Transparent Fees
There are many applications that offer disbursement services. However, you need to carefully understand them. One of them is to choose services that prioritize transparent fees. These fees only cover maintenance, installation, and bank administration fees.
- Look for Extensive Networks
As a business owner, you need to be cost-efficient. If the business accepts various payment methods, look for minimal fees. Additionally, look for services with extensive networks, making it easy for businesses to send to various destinations.
- Choose Easy-to-Use Services
Compatibility with any system is an absolute priority for businesses. When it can integrate with any system, it becomes easier for businesses to manage transactions. This is crucial and needs to be considered by businesses.
- Look for Secure Services
Technological advancements can make it easy for anyone to access any information, including transaction records. If it involves payments, look for applications or services that guarantee good security. If it's good, both businesses and consumers won't hesitate or worry when making transactions.
Once you understand the definition, types, and tips for choosing disbursement, you can apply them in your business. To help your business grow, implement Brick to connect with digital financial services. Brick helps businesses send payments to various bank accounts simultaneously. ***
