Employee Auto Deposit - Field Descriptions

Use the table below for reference when completing the fields on this screen.

Fields/Buttons

Descriptions

Allocation method

Select Percent or Fixed amount.
  • If Percent is selected, then the percent of the check specified will be deposited into the account.
  • If Fixed amount is specified, the set dollar amount will be deposited into the accounts in order of priority (one through five; one being the first priority and five being the last). If all priorities are fulfilled and there is money remaining, it will be deposited into the first account specified.

Auto deposit details

Bank account code

Enter the employee's account code for auto deposit.

Account type

Enter the automatic deposit account type: Checking or Savings.

ABA #

Enter the employee's bank routing code for automatic deposit purposes.

Status

Select Yes if this is an active auto deposit account, No if it is not and active auto deposit account, or Pre-notification to create a pre-notification record to be sent to the bank when the file/disk is created. No funds will be deposited to the account. Instead, the employee will either receive a regular check or have the funds automatically deposited to the account(s) specified in the Auto Deposit window. If any of the five lines are set to Yes, then a regular check will not be printed.

The bank generally has 10 days to notify the sender if the account code on the pre-note is incorrect. Once the bank notifies the employer that the pre-notification was successful, this field should be changed to Yes. This means that an employee will generally have three payroll processes with the Prenotification classification before the auto deposit on a given line is changed to Yes (assuming a weekly payroll is processed).

After the checks are calculated, this status cannot be changed to or from Yes until the current Payroll cycle is cleared for the next cycle. This protection assures that an employee won't receive a printed check and an auto deposit payment in the same pay cycle. However, if you are adding a new employee, this restriction obviously does not apply.

Rate

If the Percent allocation method was selected, enter the percent of the deposit to be allocated to this account. The sum of the lines allocated using the percent method must be 100% before saving and ending.

If the Fixed amount allocation method was selected, enter the fixed amount to be deposited into this account.