GENERAL - to set up Employees for direct deposits
- Have an authorisation form signed by the Employee as well as an agreement between
you and the client
- Have an agreement with the financial institution that processes these transactions
through the ACH (Automated Clearing House) system.
- Employees should provide a voided check from their bank account. The voided check
will provide you with information where to deposit the Employees funds. The Employeer's
bank information is already established since it is the same information used to
print payroll checks.
BANK NAME
Enter the Employee's bank name as show on the voided check.
9 Digit R/T #
Every bank is identified by a unique 9-digit Routing and Transmit number. This number
is enclosed in a special symbols at the bottom of the voided check. Enter only
the specific digits.
Employee Account #
The Employee account number is also shown at the bottom of the voided checks. Enter
only numbers.
C/S
Enter 'C' for "Checking" or 'S' for "Savings".
Percent
Enter the percentage of the net pay that should go into this account. If only one
account is used, enter "100" percent. If you enter the percent here, the "Amount"
field will be ZEROED automaticaly!
NOTE: The Net pay may be split into 4 different bank accounts maximaly.
Amount
Enter an amount to be deposited into this account.
If you enter the amount here, the "Percent" field will be ZEROED automaticaly!
NOTE: You can divide a paycheck by percentage and/or amounts. Amounts must
be entered before percentages. For example...
BANK OF AMERICA (SAVINGS) $ 50.00 CREDIT UNION (SAVINGS) $ 25.00 1st NAT BANK (CHECKING) 100% (of what's left over)NOTE: Bank account number "1" has priority over accounts 2,3 and 4. Bank account number "2" has priority over accounts 3 and 4, etc. If the net pay is insufficient to satisfy the deposit requirements as aset up, the different bank accounts will be satisfied based on priority.