Costpoint Online Help

Using the Help Search
Using the Help Search
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Periodic Procedures

There are several steps in performing periodic procedures.

Periodic Procedures:

  1. Enter timesheets and Post Timesheets, Compute Leave Accruals, and Post Payroll Journal and Compute Payroll.
  2. Run the Activate Pending Employee Bank Information utility, which deletes the employee’s active bank accounts and replaces them with the pending bank account setup if the employee’s Direct Deposit File Created check box is selected in the Pending Bank Accounts group box on the Manage Employee Bank Information screen.

    This utility loads the Active Bank Accounts table (Manage Employee Bank Information) with the bank accounts that are used to allocate an employee’s net pay. You may prefer to execute this step as the final step of the pay period, or as the first step of the next pay period.

    If this is the first time you are performing the director deposit procedures, skip this step.

  3. Process the direct deposit on the Create ACH Bank File screen.

    This creates the file, with a user-defined path and name, that is transmitted to the bank. We recommend that you name each file differently so that you can retransmit if necessary. You must perform this step before printing payment advice forms for direct deposit employees and before posting the Payroll Journal. The process, which generates the Direct Deposit File, accepts only Payroll Table records that do not have check numbers or check dates in them. You can print regular payroll checks before generating the Transmission File because the Print Paychecks program does not place check numbers or check dates on employees who are in the Manage Employee Bank Information records.

  4. Print and review the contents of the ACH File on the Print Bank ACH File Report screen.
  5. Transmit the bank file to the bank using a modem, or send a diskette (or tape) containing this file to your bank with any necessary forms.
  6. Print the payment advice forms on the Print Payment Advices screen, using the form your company has chosen.