Version 3.1 by Peytience S on 2023/05/03 18:58
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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.
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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**.
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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.