Only available to companies with the Direct Deposit Module.
This grid allows you assign the necessary information to enable direct deposit for your employees. To save the values in a row, use the down arrow on your keyboard to go to the next row.
Instance: Count of accounts that an employee has assigned.
Account Status: (3 possible values)
Prenote: Used for testing if the account numbers are valid. Most banks require you to run at least one prenote before going live.
Live: Active account for direct deposit.
Inactive: Account no longer used.
Account Type: (2 possible values)
Checking or Savings: Payroll Cards are usually considered Checking. Consult Payroll Card provider to be certain.
Routing Number: Employee’s Bank info.
Account Number: Employee’s personal account number.
Amt per Pay: Dollar amount to deposit in this account
Percent Per Pay: Percentage of net to be deposited in this account.
If an employee has just one account to direct deposit to then use 100% for the Percentage Per Pay.
For employees with multiple accounts you have many options. If the employee wants the entire check to be Direct Deposit and receive a ZERO check the last account on the list must be 100%.
In this example, $50 of the employee’s paycheck goes to checking and then 100% of the remaining balance will go to savings creating a ZERO check.
Employees can also have just a portion of their check go to Direct Deposit and still receive a check.
In this example, $50 of the employee’s paycheck goes to checking and then everything but $50 will go to savings which would leave a balance on the check of $50. So if the last account listed has a negative amount it will take 100% to that account minus that amount.
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In this example, $50 of the employee’s paycheck goes to checking and then 75% of the remaining balance will go to savings leaving a balance on the check.
Note: If you have purchased the "Direct Deposit" module, you will need to contact the bank for information. With the Direct Deposit option, you may be able to use ACH Credit for EFTPS (Electronic Federal Tax Payment System) Check with your bank for requirements. For the employee's setup, you can call Technical Support for assistance.
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