How do I set up EFTs for Payroll?
Contact your bank to make arrangements for Electronic Fund Transfers. Depending on the bank, this may take several weeks. Allow plenty of time prior to the first payroll needed.
Enter employee bank information
Go to Advanced Payroll (v2) > Payroll Control Center
- Click Employees tab
- Click to highlight desired Employee
- Click EFT
- Check Pay By EFT
- Click Bank Accounts tab, enter Bank Name, Routing & Account Number, and Account Type checking or savings.
- Check Primary if this is the Primary bank account.
Every employee needs to have one bank account that is marked as the Primary bank account.
If there is an additional bank account or accounts, click Pay Cycle Additional Distributions tab.
- Select the Pay Cycle
- Enter Order, the priority order for additional distributions.
- Enter additional Bank Account
- Enter Rate, either a percentage or a flat dollar amount. Anything over 1.00 is considered a dollar amount and .999 or less as a percentage.
If there are other bank accounts that the employee wants their pay distributed to, repeat step 2-4.
The example shows a $100.00 distribution. The remaining balance will go to the Primary bank account.
When entering rates with multiple bank accounts, either enter the dollar amount that is being sent to each additional bank account, or the percentage of the pay check. If 0.999 is entered, then 100% of the paycheck will go to that account. If 0.25 is entered, then 25% of the pay check will go to that account and the balance will go to the primary bank account.
Does your entities bank information need to be setup?
The bank account used for paying the EFTs needs to be setup with your entity's banking information. Contact Client Services for help setting this up.
Create a Prenote file
Once the Employee and Employer bank information has been setup, a Prenote file needs to be sent to the bank to confirm that payments can be sent to the employees accounts.
Go to Advanced Payroll (v2) > Electronic Funds Transfer
- Click Adv Payroll Prenotes tab.
- Select Payroll Date and Effective Date the current date of the Prenote.
- Select the Bank account used for paying employees Acct #. The rest of the information will populate automatically.
- The list of names will show the employees that will receive a file. If there are ones that should not be sent, just uncheck the Select box.
- The Payroll Folder will show the location where the Prenote file will be saved. This should be a secure folder location that has limited access to only those that need it.
- Click Create
- Enter a File Name
- Click Open
- A confirmation will appear that the file has been created, click OK.
- Follow the instructions of your bank for processing the Prenote file.