Payroll Direct Deposit Fact Sheet - Bret A. Bennett
Payroll Direct Deposit is fast, convenient, reliable and confidential. No more special arrangements when employees are out of town or sick on payday. No more lunch hours spent cashing checks. The money is available immediately to employees on each payday.
With Payroll Direct Deposit, you can automatically add payroll funds to your employees’ bank, savings and loan or credit union accounts through an electronic Automated Clearing House (ACH) file. Conforming to the National Automated Clearing House Association (NACHA) specifications, Payroll Direct Deposit allows unlimited accounts and unlimited financial institutions for any employee’s payroll.
Provides flexibility, accuracy and convenience
Make split disbursements: Payroll Direct Deposit provides a feature-rich addition to Payroll. It allows employees to designate unlimited accounts and unlimited financial institutions for their payroll amounts. Disbursements can be split between direct deposit amounts and actual checks using fixed amounts and percentages.
Create two types of direct deposit accounts: An individual’s pay amounts can be set up on Payroll Direct Deposit in one of two ways. You can distribute net wages to any number of bank accounts in the Direct Deposit Maintenance window, or you can create a deduction direct deposit that can be used for a company savings plan.
With direct deposit processing, payday is fast, convenient and reliable for your organization and your employees.
Print and pay the way you want: Payroll Direct Deposit allows you to print payroll checks and earnings statements according to your organization’s needs. You can print payroll checks and earnings statements together, or you can print checks first followed by earnings statements enabling you to conserve check stock. Multiple check runs can be included in a single ACH file so you can submit a single file with all pay information for all personnel instead of submitting a separate ACH file for each check run you process.
Integrate with U.S. Payroll: As part of the Microsoft Business Solutions–Great Plains business management solution, Payroll Direct Deposit integrates with U.S. Payroll and Bank Reconciliation allowing you to reconcile checks in a single amount or by individual earnings statements. Since Payroll Direct Deposit is built into Canadian Payroll, a separate module is not required for Canadian Payroll customers.
Create and Customize Reports: Flexible reporting options enable you to customize existing reports or create entirely new reports combining information from throughout the system. Extensive system and user-specific setup options allow you to tailor the system to match your needs.
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© 2002 Microsoft Corporation and Great Plains Software, Inc. All rights reserved. Microsoft, Microsoft Business Solutions and Great Plains are either registered trademarks or trademarks of Microsoft Corporation, Great Plains Software, Inc. or Microsoft Business Solutions Corporation in the United States and/or other countries. Both, Great Plains Software Inc. and Microsoft Business Solutions Corporation are wholly-owned subsidiaries of Microsoft Corporation. Functionality described herein may not be available on all versions of Microsoft Business Solutions–Great Plains products. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
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