Last modified by Peytience S on 2023/10/31 21:07
From version 1.1
edited by christie w
on 2023/01/17 22:14
Change comment: There is no comment for this version
To version 3.1
edited by Peytience S
on 2023/05/03 18:58
Change comment: There is no comment for this version

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1 +XWiki.peytiences
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1 +**Prior to setting up Direct Deposit you will need the following information:**
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3 +* You will need to find out from your bank if they will accept the **ACH file**, in **NACHA format**, for processing your Direct Deposit payroll.
4 +** Some banks do not accept the file as they have their own procedure for submitting Direct Depost payroll.
5 +
6 +* Does the bank want the file to contain the **Balancing Entry,** more commonly referred to as the Debit Entry. This is not common as most banks will want the entry included in the file.
7 +* If your bank will accept the file, you will need to find out **how to submit the file to the bank**, for example upload the file on a secure website, and how many days in advance of the pay date they would need the file submitted for processing on the pay date.
8 +* From your employees, you will need something that has their bank **Routing** and **Account Numbers** on it such as a cancelled check or deposit slip.
9 +* You will need your **Company's Bank Routing** and **Account Number**.
10 +
11 +There is **no fee** for using the Direct Deposit feature of your payroll program. However, your bank may charge a fee to process the file for you.