Employee Direct Deposit
Use the direct deposit process to send employee expense payments to your employees' banks or other financial institutions.
When you process direct deposits for employee expense payments, DPS:
- Generates a disk file using the Automated Clearing House (ACH) format, which is generally accepted by most banks and other financial institutions. You send this file to the bank after you process direct deposits for employee expenses.
- Generates a Direct Deposit report, which lists the employee number, employee name, Social Security number, bank ID, bank account number, bank account type, direct deposit status, and direct deposit amount for all employees included in the selected payment run.
Before processing employee payments, you:
- Enter bank account information for your employees in the Employees hub. You can deposit all or a portion of an employee's expense payment amount to one or more of the employee's bank accounts. Then use Employee Payment Processing to post payments, and process direct deposits.
- Hide Social Security numbers on expense direct deposit reports and ACH files. To do this, clear the Print social security number on journals and direct deposit reports/files option on the General tab of the Accounting Company Settings form ().
- Set up direct deposit information for the associated bank/bank code in Settings. The direct deposit information entered in Direct Deposit Setup is used when processing payroll direct deposit and employee expense payment direct deposit.