Processing direct deposit
It is important to establish a routine for direct deposit entry. If you are unfamiliar with direct deposit entry or do not have a standard set of procedures, use the following guidelines to help you through the process. You may not need to perform every step outlined.
Pay stubs for employees that are set up for direct deposit are processed individually when you process payroll checks through 5-2-4 Report Printing, Sage 100 Contractor. For each pay stub, the program creates a PDF file that is password-protected with the last four digits of the employee’s social insurance number.
Caution! Whenever any changes are made to your direct deposit file format by changing any of the formatting options, you should contact your bank and request a retest to be sure your bank is ready for the changes.
To process direct deposit payroll:
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1
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Enter your company's direct deposit information in the Payroll Direct Deposit Setup tab of 7-2 Company Information. |
Note: Only Originator ID# and Destination Data Centre are required entries in this section. Optional information should be entered as required by your financial institution.
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2
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Open 5-2-1 Employees and enter the direct deposit information on the Direct Deposit tab. |
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3
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Open 5-2-2 Payroll Records and enter timecards. |
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4
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Open 5-2-3 Compute Payroll and enter record criteria. |
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5
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To print a cheque register for reviewing purposes, open 5-1-2 Payroll Cheque Register and do the following: |
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a
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Select either the print a cheque register for direct deposit records only or the printed cheque records only check box. |
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6
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Open 5-2-4 Payroll Cheques and do the following: |
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a
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Print cheque stubs and non-negotiable cheques. |
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b
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Specify a cheque date when prompted. |
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c
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Assign cheque numbers when prompted. |
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7
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Open 5-2-5 Direct Deposit File Manager and do the following: |
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a
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Enter the batch criteria to create a direct deposit file, or on the Options menu, click Retract a Direct Deposit Batch to retract a direct deposit batch. |
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b
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Select the destination for the direct deposit data. The default destination is the Direct Deposit folder under the company name. You can accept the default name or create your own. |
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8
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Open 5-1-2 Payroll Cheque Register, select the register you want to print, and print a file copy. |
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9
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Open 5-2-6 Post Payroll to GL and post payroll. |