Setting Up EFT Options
Use the EFT Options window to set up information about your company's bank account. The program incorporates this information in the direct deposits that are sent to the bank.
Note: The fields on the EFT Options window depend on the bank and bank format you choose. All information entered on this window should be based on the bank’s guideline book.
General Tab
The General tab lets you add or change information about your company's bank, including:
- The bank format.
- Identification numbers issued by the bank, such as the bank's originator number or data center number.
Other Tab
The Other tab lets you enter information about your company's bank account, including:
- Account type (checking, savings, etc) and account number.
- Routing (DFI) number.
This tab also provides information such as the date and file number of the last direct deposit run.
Before you begin using the direct deposit (EFT) feature:
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Contact your bank to advise them that you are going to use direct deposit software. You will need the following from them:
- A user number (ID #) such as the Originator or Organization number. The banks use this number to identify your company.
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Your bank’s publications describing direct deposit procedures. These publications will discuss any special changes that must be made to the way you send a file. For example, they may want you to use their communications package instead of an off-the-shelf brand to ensure that they can assist you with any technical problems that arise.
- Allow adequate time to collect all the employee information and perform, at a minimum, one test run (prenote) so that the banks can verify that your direct deposits, when received on a live status, are correct and that no adjustments need to be made.
To Use the EFT Options Window
- Open Payroll > Payroll Setup > EFT Options.
- In the Bank field, select a bank that you have already set up in Bank Services (Setup > Bank Services > Banks).
- Click the tab you want to see, and enter information in the fields.
- To keep any changes you make, click Save. To leave without changing EFT options, click Close.
Overview of Tabs on the EFT Options Window