After you process payroll and print payments, you can process payroll direct deposits/electronic funds transfer.
To process payroll direct deposit:
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In the Navigation pane, select
.
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On the Payroll Payments form, do one of the following:
- In the Payment run search, select a payment run with a status of
Processed <x> employees.
- Click
+ New Payment Run. Complete the form and make sure that
Create Checks Instead of Direct Deposits for This Run is cleared (not selected) when you create a new payment run.
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Process payroll payments and print payments for the payment run.
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In the
Effective Entry Date field on the Electronic Funds Transfer form, enter the date on which entries are to be posted to employee accounts.
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In the Electronic Funds Transfer grid, select a payroll run to process.
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On the Actions bar, click
Bank Settings.
Vantagepoint opens a new browser window and displays the Bank Code form of the bank selected for the payroll payment run.
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Click the NACHA File Format tab and specify the options for the Electronic Funds Transfer file.
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On the toolbar of the Electronic Funds Transfer grid, click
Print.
Vantagepoint opens a new browser window and displays the Direct Deposit report, which you use to review employees and amounts to be processed.
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On the grid toolbar, click
Process Transfer.
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On the Download Electronic Funds Transfer Files dialog box, select the file that you want to create.
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Click
Download.
Vantagepoint downloads the file to your computer. You can now send the file to the bank, for the crediting of the payroll amounts processed.
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When everything is finalized, click
Close Payment Run on the Actions bar of the Payroll Payments form.