About Direct Deposits: Canada
An overview of direct deposits, which allow you to transmit payroll earnings through your bank directly to an employee’s bank.
Employee earnings are transmitted via a file that is formatted to the rules and regulations of the Canadian Payments Association (CPA).
About Setting up Direct Deposits
- Establish an agreement with your bank on their rules, specifications and method for transferring the direct deposit electronically.
- Set up the bank and company direct deposit information in the CM Accounts form.
- Enter the employee's direct deposit account information in the PR Employees form, Direct Deposit tab. All net pay is deposited into the specified account, unless additional distributions are set up and active.
About Setting up Additional Distributions
There are two locations where you can set up additional distributions:
- PR Employees form, Add'l Direct Deposits tab - use the grid to enter additional direct deposit distributions including additional bank accounts and different frequencies and methods. For more information, see Set up Additional Direct Deposits for an Employee.
- PR Employee Pay Sequence Control form - before you assign a CM Reference number, select EFT in the Payment Method field and enter additional direct deposits on the Direct Deposit tab. In order to close the pay period, the total of all direct deposit distributions must equal the net pay.
