Banking/Payment Details

If you aim to pay your employees by EFT you will need to enter the following details:

 

  1. Your organisation’s banking details

The details are used to generate a direct banking (EFT) data file. The file is automatically produced when you finalise a pay run. The file will contain details of all transactions that should be made as a result of the pay run. At the end of the pay run you will need to transfer the file to your Bank. You will need to use separate Bank File Transfer software to transfer the EFT data file to your Bank.

 

To enter your organisation’s bank details:

  1. Select Payroll/Personnel Parameters Other

 

  1. In the Direct Banking Details section of the screen enter the following:

 

TIP: Some of the following settings are shared by the Payroll and Creditors systems. If you make a change from within Payroll to any setting that is used in Creditors, you will therefore affect the Creditors system as well.

 

Direct Banking file required (shared by Payroll and Creditors systems)

To be able to pay your employees by EFT a direct banking (EFT) data file will need to be produced. SynergySoft will automatically produce the direct banking (EFT) data file for you during finalisation of the pay run if you enable this option.

Users Financial Institution id (shared)

Enter a maximum 3 character id for your Bank e.g. NAB or ANZ

Users preferred name

Enter your organisation’s preferred name. The name will appear on Statements.

Users ID

When you notify your Bank that you would like to use direct banking (EFT) your Bank will issue you with a unique Users ID for you to be able to do so.

Description of entries on file

Briefly describe what the direct banking (EFT) file contains e.g. Pay

Trace Account – BSB (shared)

Enter the BSB number of the Bank Account that will be credited when the direct banking (EFT) file is processed.

Trace Account – A/c number (shared)

Enter the Account number of the Bank Account that will be credited when the direct banking (EFT) file is processed.

Name of Remitter

Enter the name of your organisation.

Directory to hold deposit file on the DATABASE SERVER

Enter the full path name of the directory on your Database Server where you would like the direct banking (EFT) file to be created.

 

TIP: Rather than specifying that the .aba file is generated in a folder on your Database Server (which may result in problems if authority to write to the nominated directory does not exist) you can specify that the file is created in a directory on a Local PC instead. To do so, enter the path for the Local PC in the Directory to hold deposit file on the Local PC field (below) and ensure that you leave this field blank.

Direct Debit file type (shared)

Your bank will require the direct banking (EFT) file to be created as either a Balanced or Unbalanced file. (A Balanced file contains a contra.) Select the appropriate option from the drop down list.

Use financial institution ID as filename (optional - shared)

If you enable this option the direct banking (EFT) file that is generated during finalisation of the pay run will be named after your financial institution. e.g. if your Bank’s Users Financial Institution id is NAB and you have ticked this check box when a direct banking file is created during finalisation of the pay run it will be given a name of NAB.aba

Directory to hold deposit file on the Local PC

Rather than specifying that the .aba file is generated in a folder on your Database Server (which may result in problems if authority to write to the nominated directory does not exist) you can specify that the file is created in a directory on a Local PC instead. To do so, enter the path for the Local PC in this field.

 

NOTE: If you enter a path in this field ensure that you leave the Directory to hold deposit file on the DATABASE SERVER field blank.

 

 

  1. Your employees’ bank account details so that their pay can be paid directly into their accounts.

To do so you need to:

    1. Create Bank Branch codes

You will need to enter a Bank Branch code when creating each employee’s bank account details.

See How to create a Bank Branches code.

 

    1. Enter each employee’s bank account details.

    1. To do so, select Employees Payment.

    2. Select Add Row and enter the following details:

 

Bank Code

Enter the relevant Bank Branch Code

BSB No.

The BSB Number will automatically be displayed when you enter the Bank Branch Code.

Bank Acc No.

Enter the employee’s Bank Account Number.

 

NOTE: Should the Direct Debit transfer fail for an employee’s account details, the funds will be credited back to your organisation's nominated payment account. The system will display the reason for the transfer having failed e.g. Incorrect Bank Account – No Such Account.

Account Name

Enter the employee’s Bank Account Name e.g. AB & CD Quinn

Amount

Enter what amount of the employees’ pay that should be paid into this Bank Account. If the employee would like all their pay paid into this account enter a value of 0.00 in the Amount text field.

 

NOTE: If any of the details above are entered incorrectly the EFT transfer will fail. In the event that an EFT payment cannot be made to an employee’s bank account the funds will be credited back to your organisation’s nominated payment account. (Your organisation’s Normal Bank Account is defined through Parameters Options Normal Bank Account) A notice will be included with the transaction explaining that the reason for the transfer having failed e.g. Incorrect Bank Account – No Such Account.

 

An employee may request that their pay is paid into more than one Bank Account. If they do, Bank Account details will need to be entered for each account that the employee’s pay is paid into. To do so, repeat the steps above.

 

  1. Your employees’ preferred method of payment. Employees can be paid by cash, cheque, EFT or any combination of these.

 

 

 

See How to enter an employee’s Bank Account details (above) for more information.

An employee may request that their pay be paid into more than one account. In such a case you will need to enter details for each of their bank accounts and specify in order of preference which accounts the employee would like their pay paid. You can specify how much should be paid into each of the accounts. To ensure that the balance of the pay goes into the last account listed specify that an amount of 0.00 should be paid into that account.

 

 

To be able to pay an employee by cheque you must:

 

 

NOTE: If the employee would like to receive their full pay by cheque you will need to enter a value of 0.00 in the Cheque Payment text field. You will also need to select the option that the final balance of payment is made to Cheque.

 

The system will automatically display the Sundry Creditors name.

 

This option is only rarely used. An employee may request that they receive their pay in cash while waiting to open a bank account, for example.

So that an employee’s pay is paid their total pay in cash:

 

 

 

 

Any remaining amount will be paid by cheque or paid into the last bank account listed.

 

 

Where to from here?

See Payroll - Steps