Direct deposit allows your employees to have their pay cheques deposited directly into their bank account. Banks require electronic delivery of payroll information by companies wanting to provide employees with direct deposit. Sage 100 Contractor supports the creation of a file in electronic file transfer (EFT) format. You can then send this file to your bank. Your bank will extract records from the file and create files that are routed through EFT providers to the various employee banks.
Two documents can be created during a direct deposit run: the Direct Deposit File and the Direct Deposit File Report.
Printed cheques have a unique cheque number and an electronic deposit number that correspond to the payroll record number. Sage 100 Contractor users with cheques pre-printed with cheque numbers should process cheque runs in sequence.
Printing direct deposit payroll cheques creates and prints a non-negotiable cheque and supplies the employee with a record of the payroll. You have three options for printing direct deposit cheques in 5-2-4 Payroll Cheques.
Direct deposit is limited to employee payroll. Sage 100 Contractor does not support electronic payment or electronic transfer of funds for such things as:
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About setting up direct deposit About Direct Deposit File Manager Setting up company information for direct deposit Setting up employee records for direct deposit |
For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.
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