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ELECTRONIC CHECKSMERCHANT ACCOUNTSPAYMENT SOLUTIONS




Calculate savings with online payment by check or credit card.


Fill in to calculate your savings.

Use this form to calculate how much you are spending on paper billing and checks and how much you can save with electronic processing through Inovium Electronic Funds™. The default numbers below are typical figures. You can use them as is or enter your own.

Number of invoices per month
Hourly clerical cost (Note A) $
Minutes to prepare and
print each invoice
Minutes to prepare
envelope for mailing
Minutes to mail
Postage per invoice $
Average minutes spent of posting and reconcilaition per invoice
Minutes to record deposit
Minutes to deposit check
Bank deposit fee per check $


End-to-end online payment solution

LectroChecks ™ is an end-to-end method of providing your customers with the opportunity to make payment by online check or credit card. You simply upload your invoices to the Internet. They are automatically delivered to customers via email. The system walks your customers through the process of paying by online check in seconds. The payment goes straight into your account. You save all the time and expenses normally associated with paper billing. You also reduce your time-to-collect by at least one week.

Note A:
The median expected salary for a typical Billing Clerk, Sr. in the United States is $46,050. The hourly range is calculated from: low range of $17.04 hour, Medium range of $22.31 hour and a High range of $27.58 hour plus payroll benefits of Federal and State Payroll Taxes, Health Benefits, Vacation Pay.

The $21.00 per hour rate is for demonstration purposes only. The rate for your company may be higher than the rate used in the calculator. The median salary was determine by using salary.com report which was prepared by salary.com using their Certified Compensation Professionals' analysis of survey data collected from thousands of HR departments at employers of all sizes, industries and geographies

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