Direct Deposits

Overview

This page contains the setup for employee direct deposits.  It is very important to double check information you enter here to avoid delays in payments to your employees.

 

 

Fields

•      Priority – The priority number for the direct deposit.  Direct deposits are processed in ascending numerical order.

•      Start Date – The date on which the direct deposit will begin.  If left blank, the start date will default to today's date.

•      End Date – The date on which the direct deposit will end.  If left blank, the end date will default to 12/31/2100 (forever).

•      Transit – The bank's transit/routing number for the direct deposit.  The bank name will be shown to the right of the transit field.

•      Account # – The bank account number for the direct deposit.

•      Checking? – Indicates that the direct deposit account is a checking account.  Check the box for checking accounts; uncheck the box for savings accounts.

•      Amount Code – The amount code for the direct deposit.  There are three choices:

o  % (Percentage):  Directs the system to put the percentage of the employee’s net pay as specified in the amount field into this account.

o  Flat:  Directs the system to put the amount of the employee’s net pay as specified in the amount field into this account.

o  Flat- (Net pay minus flat amount):  Directs the system to put everything but the amount you enter into this account.  For instance, if an employee would like to have all but $100 direct deposited into an account, you could set up an account with an Amount Code of "Flat-" and enter an amount of 100.  The remaining $100 would be distributed as a check if no other direct deposit is set up to distribute it.

If the amount code is left blank, the "Flat" amount code will be used.

•      Amount – The amount for the direct deposit.

•      Skip Prenote – Check this box to skip the prenote process and have direct deposits go live immediately.

•      Prenote Date – The date on which the prenote occurred.

•      Exclude Special Checks – Check this box to disable the direct deposit for pays with the "Special Check" checkbox checked in the paycheck attributes.

•      Name on Account – The name on the bank account for the direct deposit.  This prefills automatically with the employee’s name (last, first middle), but can be changed if needed.