Use this screen to enter the information used to generate direct deposits of employees' pay. Each employee can have a maximum of five different direct deposit accounts for the distribution of his net pay. You can enter a fixed deposit amount, a percentage of net pay, a residual amount, or a combination of these methods. The employee's entire net pay must be designated as either direct deposit or as a hard-copy check. Costpoint does not support a combination of a direct deposit and a hard-copy paycheck. For each employee who wants to participate in direct deposit, you will enter the transit/routing number that identifies the employee's bank (bank ID) and the individual's account number, which are found on a check or deposit slip. Negative net pay amounts will not be accepted for direct deposit. In addition, you will also enter a transfer code indicating the type of account and initial notification ("prenotification") in this screen.
Enter employees in this screen after entering employee bank information in the Maintain Direct Deposit Banks screen in Costpoint Payroll and before using any other direct deposit screens. You must also set up employees in the Basic Employee Info screen. During initialization, you should set all employees to "prenotification" codes and transmit the ACH File to the bank. Then, for the following pay period, switch all "prenotification" codes to "live" codes. Each pay period, add employees electing to join the direct deposit program to this screen, with "prenotification" codes, before generating the bank deposit file. After you have generated and transmitted the bank deposit file, change all prenotification codes to "live" codes and add the method(s) and percentage(s) or amount(s).
Enter, or use Lookup to select, the ID for this employee. The employee's name will display in the adjacent non-editable field. This is a required field.
Select this checkbox to activate direct deposit for the employee, or uncheck the checkbox to suspend or stop an employee's direct deposit.
Select this checkbox to print a payment advice for the employee. If you do not select this checkbox, payment advices will not be printed for the employee.
You must set up an account to receive any residual amounts and it must be the lowest-ranked account. Use the drop-down box to enter the rank number for the account that will receive any residual amounts. This is a required field.
In this field, assign the priority order in which an account receives funds. Rank "1" is the highest priority and rank "5" is the lowest. A rank number of "1" indicates that the line has first priority and the system will process it first when calculating the deduction from the employee's net pay. This process continues until all accounts have been processed. This is a required field.
Enter the bank ID for the bank account that will receive this direct deposit payment. The bank ID must already exist in the Maintain Direct Deposit Banks screen in Costpoint Payroll. This field is required.
This non-editable field displays the name of the Bank.
Use this field to assign the employee's bank account number for the associated bank. Enter the employee's bank account number, using up to 17 digits; hyphens are permitted. Check with your bank to verify its required format for the bank account number. This is a required field.
In this required field, assign the ACH transfer code, which determines the type of account and transaction to be made. Enter one of the following ACH transfer codes to notify the bank of a "Checking" or "Savings" account ("Prenotification" or "Live" transaction):
Checking credit
Checking prenote
Savings credit
Savings prenote
Before printing checks, the system checks to see if participating direct deposit employees are stored in this screen. If a "Live" (transfer code "22" or "32" and Active is selected) employee is located, a usable hard-copy check will not be printed (but you can print a voided check). When creating the Direct Deposit ACH File, "Live" employees' check amounts are placed into the ACH Transmission File. Prenotification employees are included in the file with no check amount (they will receive printed checks while on prenotification status).
This required field determines the method by which the Percent or Amount field is calculated. Enter the method for this account in this field. Valid options are: "P" (Percent of Net Pay); "F" (Fixed Amount); "R" (Residual); and "N" (No Amount). You must set up only one account with a method of "R."
P - This method specifies that a percentage of the net pay amount is to be deducted and deposited to the account specified. Enter the percentage amount in the Percent or Amount field. The system calculates the percent on the total net pay amount and does not consider any previously deducted amounts. The system does prevent you from entering total percentages over 100%. However, if there are not enough funds remaining to cover the percentage specified, the remaining funds will be the amount of the deposit.
F - This method specifies that a fixed amount is to be deducted and deposited to the account. Enter the amount in the Percent or Amount field. The system will deduct this amount from the net pay and deposit it. However, if not enough funds remain to cover the fixed amount, the remaining funds will be the amount of the deposit.
R - This method specifies that any remaining funds after prior deductions will be deposited to this account. The "R" Method must be the lowest ranked account (with Rank 1 being highest and Rank 5 being lowest). You cannot save any accounts ranked lower than the "R" method. One and only one account must be specified as an "R" method.
N - This method specifies that no amount should be deducted for this account. This method turns off any previously set up deposit amount. When you enter an "N" method, the Percent or Amount field is zeroed out. To turn off a single account, enter an "N" method on the appropriate line.
This required field is used in conjunction with the Meth field. If you have entered "F" (Fixed Amount) in the Meth field, enter the amount to be deducted from net pay in this field. For the "P" method, enter the percentage of net pay to be deducted in this field. For example, if 10.5% of net pay should be deducted, enter "10.50" in this field. If all the accounts (except the residual account) have a "P" method, the percentage amount does not have to total 100%. The residual account that has been designated will receive the remaining percentage. If you select the "R" or "N" Meth, this field will automatically be set to "0" and cannot be edited.
Changes to this screen update the following tables:
Employee Bank Header - PR_EMPL_BANK_HDR
Employee Bank Line - PR_EMPL _BANK_LN