Introducing the Direct Deposit Module

Direct Deposit is the direct payment of an employee's wages by the employer through Electronic Funds Transfer (EFT). The Direct Deposit module allows employees to choose how and where their direct deposits are posted—to a single account in a single bank, or to multiple accounts in multiple banks. Employees set the monetary amounts or percentages of their paychecks for deposit distribution.

The Payroll module must be installed in order to use the Direct Deposit module.

Please ensure that you contact your financial institution to set up the proper direct deposit information and complete the appropriate documentation.

Note: In MIP, there is an "Electronic Funds Transfer (EFT)" module; that is a separate module to Direct Deposit, and is not required to use Direct Deposit to pay your employees.

 

For help setting up the Direct Deposit module, see Setting Up the Direct Deposit Module.

To enter direct deposit information for your employees, see the Employee Profile Help page, and select the "Job and Pay Rate" section. This is where you will enter your employee's bank information.

For information on generating the ACH file to send to your bank for direct deposit, see Automated Clearing House File (ACH).

For reports, see Payroll Reports.