Create ACH Bank File
Use this screen to create the direct deposit file (ACH File).
The ACH File is a single text file that you can submit to employees' banks via diskette or modem. Costpoint creates a record for each of the employees' accounts when an unpaid paycheck exists in the Employee Payroll table (Payroll Edit table) and the employee has been set up on the Manage Employee Bank Information screen. The presence of either a check number or a check date prevents a record being created. When this file is sent to your bank, the bank then debits the employer's account and credit amounts to employees' accounts that use the same bank and sends payments to other banks for the remaining employees. Therefore, only one file is written; the records are easily distinguishable by the bank ID that is embedded in each record.
The Direct Deposit of Payroll topic discusses the direct deposit feature in detail.
After you have created payroll and reviewed the Payroll Edit Report, Costpoint can generate the ACH File that contains the payment data to be transmitted to the bank. You must create this file before printing payment advices. Note that once the Payroll Journal is posted, the data required for creating the ACH file is no longer available.
When you run the Activate Pending Employee Bank Information utility and the employee's direct deposit file exists, the employee's Employee Bank Pending Line (EMPL_BANK_PEND_LN) records replace the employee's Employee Bank Line records.
There are two ways to work with export files in Costpoint:
- You can save the file to an Alternate File Location.
- You can save the file to the Costpoint database.
If you decide to use the first option, click
in the
File Location field to select the alternate file location to which you want to save the file. If you choose the second option, leave the
File Location field blank when you export the file.