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The typical CPU is divided into these functional units:
Properly Payable
Properly payable refers to the condition under which a financial instrument, such as a check, meets all requirements for payment to the rightful party without dispute.
Requirements
Conditions or specifications that must be met or complied with.
Preauthorized Payments
Financial transactions that are scheduled to recur at predetermined intervals, where funds are automatically transferred from an individual's bank account or credit card to pay for services or goods.
EFTs
Electronic Funds Transfers, which refer to the digital transfer of money between accounts, often across banking institutions, without the need for physical exchange of cash.
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