Direct Deposit Information

Direct Deposit Information

Postby Customer Service » February 1st, 2012, 7:06 pm

An add-on feature for doing Direct Deposit for employees' pay is available for $295. With this optional module, you can create non-negotiable paychecks and electronic payroll files to submit to your employer's bank.

Here is how it works in 21st Century Accounting:

*You run Calculate Payroll as usual.
*You print non-negotiable checks and stubs for distribution to employees who have elected for Direct Deposit .
*The system posts the pay run to your books.
*The system creates an electronic file with employees' pay and bank account information.
* You submit the electronic file to the employer's bank, according to their specifications.

Direct Deposit (DD) module adds a new menu item to your payroll menu (Print Direct Deposit Paychecks) and adds new fields to the company configuration and employee's configuration pages. The module will generate a non-negotiable check/paystub report for each of the employees who have elected for direct deposit, and also creates the electronic file that instructs the bank where to send the employees' pay.

You will need to contact your bank for their requirements. 21st Century Accounting supports:
•NACHA format
•Intercept Corporation
•Wells Fargo Bank
•Comma separated values

Then start 21st Century Accounting
One time operations:
1.You first configure Payroll so it creates the Direct Deposit file in the format required by your provider. To configure your Payroll company for Direct Deposit, in Configure/Company Information, you enter the "Interface type" or other identifier of the Direct Deposit file that your system should produce, plus any other requested information, all supplied by your provider. Then in Accounts/Bank Accounts you enter the account number of the company’s Payroll checking account.
2.In Configure/Employees you enter bank information of the employees who choose Direct Deposit of their paychecks.

Every pay period:
1.Run Calculate Payroll and print paper paychecks if any.
2.Run Payroll/Print/Direct Deposit Paychecks to print non-negotiable paychecks to give employees for their records.
3.The process creates a Direct Deposit file, which you can then submit to your Direct Deposit provider.
Customer Service
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