The (Undefined variable: Language.UI Process Direct Deposits) window is available only if you use Sage 300 Direct Deposit.
You use the (Undefined variable: Language.UI Process Direct Deposits) window to process transactions by synchronizing information on your local system with the Sage 300 Direct Deposit service. When you synchronize, information is exchanged in both directions (for example, you may send prenotes to Sage 300 Direct Deposit and at the same time receive prenote approvals from Sage 300 Direct Deposit).
- Direct deposits can be made only for banks with a prenote status of Approved (specified on the EFT tab of the Employees window).
After you send a prenote, it may take up to five banking days for the bank to approve it. For this reason, you should send prenotes to your employees' banks at least five banking days before you need to process direct deposits.
- Direct deposit payments must be synchronized by 5 p.m. ET two banking days before the deposit (check) date. For example, if your check date is on a Friday, you must synchronize the payments no later than 5 p.m. ET on the prior Wednesday. If Thursday of that week is a bank holiday, you must synchronize your data by 5 p.m. ET on Tuesday.
- The direct deposit check date must be a minimum of two banking days after you process payroll, and it cannot be on a weekend or bank holiday.
- To allow enough time for fee payment processing and transmission, wait until the day after the invoice due date to synchronize the journal entry for direct deposit fees.
Before you start
- Define your company’s EFT defaults in Payroll Setup > EFT Options.
- Run Calculate Payroll and Print/Post Checks to print and post your payroll.
- When calculating payroll, select the check box option for Create EFT Checks.
To Process Direct Deposit Transactions
- From the
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In the Type of Transactions field, specify the type of direct deposit transactions to process:
- Payments. Send payments and receive information about any bank fees you have been charged (such as NSF charges).
- Prenotes. Send prenotes and receive prenote approvals.
- Fees and Prenote Approvals. Receive information about bank fees you have been charged, and receive prenote approvals. (No information is sent.)
- Enter information about the direct deposit transactions you want to process.
- If you are replacing a previously processed set of direct deposit transactions, select the Replacement option, and then specify a Run Sequence to replace.
- Click .
If you have multiple Sage 300 Direct Deposit companies that are not linked to Sage 300 companies, you must specify which of your Sage 300 Direct Deposit companies you want to link to the current Sage 300 company.
Each time you process direct deposit transactions, you must sign in with your Sage ID.
- If you leave the Sage ID screen open for more than a few minutes, processing may fail.
- If processing fails for any reason, your direct deposit data is not transmitted. You can click to try again, or contact Sage 300 Direct Deposit support at 866-237-4489 and select option 1 for help.
After processing direct deposit transactions, you receive an email confirming the details of the transactions that were processed. You can also print the EFT Direct Deposit report to see details about the transactions that were processed.
If you sent prenotes:
- For each prenote that was successfully sent, the Prenote Status field on the Employees window is set to Pending. (Until a prenote is sent, the prenote status is Not Sent.)
Banks should process the prenotes within 5 banking days. After this, the next time you synchronize direct deposit transactions, the status of the prenotes is updated to one of the following:
- Approved. Once the prenote for an account is approved, the account is ready for direct deposit.
- Declined. If the prenote for an account is declined, verify the account information and resend the prenote.