Pending Bank Accounts Subtask

Use this subtask to enter the information used to generate direct deposits after the accounts are verified by the appropriate banks. 

The table in this subtask must contain at least one prenote account. You can enter both prenote and verified accounts in the table window. 

• When you run the Create ACH Bank File utility, Costpoint sends any prenote type accounts to the appropriate banks.
• When you run the Activate Pending Employee Bank Information utility, the accounts in the Pending Bank Accounts table window replace the accounts in the Active Bank Accounts table. 

An employee can enter this information in the Direct Deposit module in ESS version 3.0 and higher. The update to the Pending Bank Accounts table is automatic. No process is necessary to populate the table.

Enter data in this subtask when an employee requests the addition of new direct deposit bank accounts. Use this subtask to enter pending (prenote) direct deposit accounts and any other approved accounts that populate the Active Bank Accounts table when the Activate Pending Employee Bank Information utility is run. If you are adding one or more bank accounts for an employee who already has approved bank accounts, click the Load Current Setup button to load the employee's current active accounts. After loading the active accounts, you can then add the new (prenote) accounts.

Contents

Field	Description
Load Current Setup	Click this button to load the employee's current active accounts. After loading the active accounts, you can then add the new (prenote) accounts. This function deletes all rows from the Pending Bank Accounts table window and copies all rows from the Active Bank Accounts table window into the Pending Bank Accounts table window.

Table Window

Field	Description
Rank	From the drop-down list, select the priority in which an account receives funds. Rank 1 is the highest priority and rank 10 is the lowest. A rank number of 1 indicates that the line has first priority and Costpoint processes 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.
Bank	Enter the bank ID for the bank account that receives this direct deposit payment. The bank ID must already exist on the Configure Bank Routings screen. This field is required.
Bank Name	This non-editable field displays the name of the bank specified in the Bank field.
Bank Account Number	Use this field to assign the employee's bank account number for the associated bank. Enter the employee's bank account number, using a maximum of 17 digits. Hyphens are permitted. Check with your bank to verify its required format for the bank account number. This is a required field.
ACH Trans Code	From the drop-down list select the ACH transfer code. This determines the type of account and transaction to be made. Valid options are: Checking Credit Checking Prenote Savings Credit Savings Prenote When you create the Direct Deposit ACH File: Bank accounts with a transfer code of Checking Credit or Savings Credit are not included in the file. Bank accounts with a transfer code of Checking Prenote or Savings Prenote are included in the file, with no check amount.
Method	From the drop-down list, select the method by which the direct deposit amount for the bank/bank account is calculated. Valid options are: Percentage: This method specifies that a percentage of the net pay amount is deducted and deposited to the account specified. Enter the percentage amount in the Percent or Amount field. Costpoint calculates the percent on the total net pay amount and does not consider any previously deducted amounts. Costpoint 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 are the amount of the deposit. Fixed Amount: This method specifies that a fixed amount is deducted and deposited to the account. Enter the amount in the Percent or Amount field. Costpoint deducts this amount from the net pay and deposits it. However, if not enough funds remain to cover the fixed amount, the remaining funds will be the amount of the deposit. Residual: This method specifies that any funds remaining after prior deductions are deposited to this account. The Residual method must be the lowest ranked account (with 1 being highest and 5 being lowest). You cannot save any account ranked lower than the Residual method. One and only one account can have a Residual method. No Amount: This method specifies that no amount is deducted for this account. This method turns off any previously set up deposit amount. When you enter a No Amount method, Costpoint zeroes out the Percent or Amount field. To turn off a single account, specify a No Amount method on the appropriate line.
Percent or Amount	This required field is used in conjunction with the Method field. If the method is Percentage, enter the percentage of net pay to be deducted in this field. For example, if 10.5% of net pay is deducted, enter 10.50 in this field. If all the accounts (except the residual account) have a Percentage method, the percentage amount need not total 100%. The Residual account receives the remaining percentage. If the method Fixed Amount, enter the amount deducted from net pay in this field. If the method is Residual, Costpoint sets this field to 0 and you cannot change it. If the method is No Amount, Costpoint sets this field to 0 and you cannot change it.

Hints:

• The Manage Employee Bank Information screen is key to the proper functioning of the Direct Deposit system. Therefore, exercise extreme care when maintaining this table.
• Negative net pay amounts are not processed for Direct Deposit.
• If a mixture of percents and fixed amounts is used, make sure the total percents do not exceed 100%.