Version 2.1 by christie w on 2023/02/10 20:56
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christie w 2.1 1 **Prior to setting up Direct Deposit you will need the following information:**
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4 ** 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.
5 \\Some banks do not accept the file as they have their own procedure for submitting Direct Depost payroll.
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8 ** 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.
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11 ** 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.
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14 ** 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.
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17 ** You will need your **Company's Bank Routing** and **Account Number**.
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20 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.