Overview
Before you can make payments to employees, you will need to set up at least one bank account in Config > Payroll > EFT Bank Account. This account is then set up in your Company Management settings.
This screen stores the account information and settings for all bank accounts set up in your portal.
Add a Bank Account
To add a bank account:
- Go to Config > Payroll > EFT Bank Account > Add New Bank Account.
- If your portal has more than one region enabled, assign a Region for the bank account. This popup window won’t appear if you only have one region enabled in your portal.
- Enter the account details and other information.
- Click Save.
For an Australian bank account, you will need to configure the following details:
Account Description |
A name for the bank account, which will appear internally only. Does not appear on pay advices or invoices. |
Financial Institution Code |
The 3-letter code identifying your bank or the financial institution (eg CBA for Commonwealth Bank, STG for St. George) |
ABA File Format |
Indicates if a self-balancing line is required when an ABA file is generated |
Currency |
Specifies the currency for transactions using the account. Will only appear if more than one currency is supported in the portal. If the bank account is being used for payroll, the currency will need to be a supported Payroll Currency (ie AUD, NZD) |
Country |
Will default to the regulatory region selected when creating the bank account |
Account Name |
The account name provided by your bank or financial institution. Some banks will require a specific name to be entered in order for transactions using the account to be processed. You will need to confirm with your bank if this is required. |
BSB |
The 6 digit number identifying your bank and the location of your branch |
Account Number |
The account number for your bank account, not including the BSB number |
Edit a Bank Account
To edit an EFT bank account:
- Go to Config > Payroll > EFT Bank Account.
- Click on the bank account Description to open the settings page.
- Edit the details as needed and click Save to apply the changes.
Delete a Bank Account
EFT bank accounts can be deleted as long as they haven’t been set as the default account for an entity and haven’t been used in payroll. You’ll also need to have at least one EFT bank account set up at one time, so if there’s only one account in the EFT Bank Account screen, you won’t be able to delete it.[a]
To delete a bank account:
- Go to Config > Payroll > EFT Bank Account.
- Tick the checkbox to the left of the account’s name.
- Click ‘With selected bank accounts…’ > Delete.
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