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. The system 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 in the Maintain Employee Bank Info screen. The presence of either a check number or a check date will prevent a record being created. When this file is sent to your bank, the bank will then debit the employer's account and credit amounts to employees' accounts that use the same bank and send 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.
Payroll Special Topic PR-3, "Direct Deposit of Payroll," 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 will contain 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.
Enter, or use Lookup to select, the taxable entity ID for the company for which you are creating the direct deposit file. This is a required field of up to 10 alphanumeric characters. Establish taxable entity information in the Set Up Company Info screen in Costpoint General Ledger. The taxable entity description will display in the field next to its code.
The employer tax ID associated with the selected taxable entity ID displays in this field.
This number precedes the tax ID for the selected taxable entity. This field defaults to "1," but you can change it if instructed to do so by your financial institution.
Enter, or use Lookup to select, the pay cycle for which you want to create the ACH File (you can create only one pay cycle at a time). If you have a default pay cycle selected, that pay cycle will default into this field.
Use this field to assign the effective date of the ACH File, which is also the date of the direct deposit of the payroll. Enter the date that the bank should credit the employees' bank accounts with the paychecks in this field. If paychecks are normally distributed on Friday, for example, enter Friday's date. It is very important that this date be the correct pay date.
Enter the file name (and the path, if needed) to be used for the creation of the file on the disk. Every time you create the ACH File, a new file is written.
To keep previous copies of the ACH File, we recommend that you use user-defined characters to identify each separate file, e.g., use the month and day of the effective deposit date (BANK0731.DAT). If you have more than one pay cycle, include the pay cycle identifier in your numbering scheme if the month and day alone do not create a unique identifier, e.g., "BANKB42.DAT," where "B" represents "bi-weekly," "4" represents "April," and "2" represents the "second" bi-weekly payroll in April.
Use this button on the toolbar to create the ACH file.
Direct Deposit Setup - DIR_DEP_SETTINGS
Employee Bank Header - EMPL_BANK_HDR
Employee Bank Line (Active Bank Accounts) - EMPL_BANK_LN
Employee Bank Line (Pending Bank Accounts) - EMPL_BANK_PEND_LN
Maintain Payroll Edit Table - EMPL_PAYROLL