Processing Direct Deposit Payroll Transactions (Overview)
How Do I...
Once your company and enrolled employees are set
up and approved for direct deposit, you are ready to start generating
and synchronizing payroll transactions. The following steps provide an
overview of the direct deposit payroll process.
- Create payroll transactions as you normally would:
In either the Payroll Entry or Select
Employees--Filter Section window, you choose the employee or employees
you want to pay.
If you want to print a non-negotiable direct
deposit advice for your enrolled employee or employees, do one of
the following before saving the payroll transaction(s):
- In the Payroll Entry window, select the Direct Deposit check box, and then select
the Print button.
- In the Select
Employees to Pay window, select the check box in the DD
column opposite each direct deposit employee you want to print an advice
form for. Then select the Print
button to print the forms.
Get step-by-step instructions for paying employees.
Save the newly created payroll transactions, and then print the
Direct Deposit Pre-Sync Register
report, which lists all direct deposit pre-notes
and payroll transactions ready for processing.
Note: You should always print direct deposit advice forms and the Pre-Sync Register report before you synchronize direct deposit payroll transactions (step 2 below).
- When payroll is complete, you are ready to synchronize
direct deposit requests to your company financial institution. You do
this in the Direct
Deposit Confirmation window of the WebSync
wizard.
Get instructions for syncing direct deposit payroll transactions.
- Following sync, the transactions are transmitted
through the ACH
network to Sage 50.
- Sage 50 makes sure the transactions are in order
and then sends them on electronically, in the form of a request, to your
company financial institution.
- Your company bank processes the requests for direct
deposit. It debits your company account for the needed funds as well as
direct deposit fees. Then the bank withdraws the needed amount from your
company account. The bank allocates and transmits the funds to the direct
deposit employee's financial institution, where they are deposited in
the employee's account(s). The direct deposit transaction shows up on
the employee's next monthly bank statement.
What do you want to do next?