Direct Deposit and NACHA Electronic Funds Transfer

You can create files to make direct deposit payments for payroll and employee expenses and electronic funds transfer (EFT) payments to accounts payable vendors through the NACHA electronic payment network.

NACHA (National Automated Clearing House Association), now called the Electronic Payments Association, oversees the Automated Clearing House (ACH) Network in the United States.

Set up the NACHA file format information that your bank requires on the NACHA File Format tab in Settings > Accounting > Banks

The EFT information on the NACHA File Format tab is used when you process:

• Payroll direct deposits

• Employee Expense direct deposits

• Accounts Payable EFT payments to vendors

If you use multiple companies, you must set up bank codes and EFT information for each company in your enterprise.

DPS also provides another option to create files that contain payment information. For accounts payable and employee expenses payments, you can use the Export to Text option to create text files that contain payment information that is processed by a third-party software application.