Active Bank Accounts Subtask
Use this subtask to view and modify the current active accounts of an employee.
Contents
Field | Description |
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Rank |
From the drop-down list, select the number (1 to 10) that indicates the priority order in which an account receives funds.
A rank number of 1 indicates that the line has first priority; Costpoint processes this line first when calculating the deduction from the employee's net pay. This process continues until all accounts are processed. |
Bank |
Enter, or click to select, the bank ID for the bank account to receive this direct deposit payment. The bank ID must already exist (you create the bank IDs on the Configure Bank Routings screen). |
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 |
In this required field, assign the ACH (Automated Clearing House) transfer code, which determines the type of account and transaction to be made. From the drop-down list, select one of the following ACH transfer codes:
Before printing checks, Costpoint checks to see if participating direct deposit employees are stored on this screen. If Costpoint locates a "live" employee (transfer code 22 or 32, with Active selected), Costpoint does not print a paycheck. You can, however, print a voided check for the employee. When creating the Direct Deposit ACH File, Costpoint places check amounts for "live" employees in the ACH Transmission File. Prenotification employees are included in the file with no check amount (they receive printed checks while on prenotification status). |
Method |
From the drop-down list, select the method for the active account. This determines the method by which the Percent or Amount field is calculated.
|
Percent or Amount |
This required field is used in conjunction with the Method field:
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Hints:
- Print the Print Employee Bank Information Report before computing payroll and compare that report with the Direct Deposit Prenotification Change Report.
- 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 you use a mixture of percents and fixed amounts, make sure the total percents do not exceed 100%.