Setting up company information for direct deposit
Setting up direct deposit involves entering information in the 7-2 Company Information. Under Direct Deposit Information in the 7-2 Company Information window, you set up the parameters that control the movement of information between your company and your bank.
This is where you enter your company bank account number, routing number, and account type, which is either checking or savings. There are also three check boxes located under Account Type that specify the format of the file type sent to the bank.
To set up company information for direct deposit:
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1
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Open 7-2 Company Information. |
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2
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Click the Payroll Direct Deposit Setup tab. |
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3
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Complete the following in the Company bank information for direct deposit section: |
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a
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In the Routing# text box, enter your company’s bank routing number. |
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b
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In the Account# text box, enter your company’s bank account number. |
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c
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In the Account Type, select your company’s bank account type. |
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4
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In the Options for direct deposit ACH file section, fill out and select the appropriate options for your direct deposit ACH file: |
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a
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Origin Bank Name—optional bank name for the 'Immediate Origin Bank Name ' field |
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b
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Destination Bank Name—optional bank name for the 'Immediate Destination Bank Name' field |
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c
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Optional Bank Routing#—Optional bank routing number for the 'Immediate Destination' field |
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d
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ID Code Designator (ICD)—select blank or any number between 1—9 for the company identification fields. |
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e
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For 'Immediate Origin Name' in file header record, select your company name or Origin Bank Name |
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f
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For 'Immediate Destination Name in file header record, select blank or Destination Bank Name |
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g
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For 'Immediate Origin' in file header record, select your company FEIN or your routing# |
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h
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For 'Immediate Destination' in file header record, select your routing# or Optional Bank Routing# |
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i
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For File formatting options, select or clear the check boxes appropriate to the preferences of your financial institution. |
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i
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Include company debit line |
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ii
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Include optional hard return |
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iii
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Include optional "9" fill |
Note: If you have any questions about which check boxes to select, contact your financial institution.
More resources
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.
For additional training on Sage products, visit Sage University.