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DIRECT DEPOSIT
It's payday. Are your employees spending their
day watching the clock and worrying about getting their paychecks to the
bank on time? Does the lunch hour get stretched because they're waiting in
a bank line? Direct Deposit, a Payroll companion module from OPEN SYSTEMS
® Accounting Software (OSAS), makes life a whole lot easier.
Give your employees another benefit: piece of mind. They'll know that their
paychecks will be deposited directly to their bank account. And, you'll get
more productivity on payday.
Employers save time and productivity; employees have choices and
flexibility
Employees no longer need to run to the bank to deposit their paychecks.
It's handled quickly and efficiently through Payroll; even manual checks
can be direct deposited. As a result, you'll see better productivity since
employees will be able to focus on their job on payday; no worrying about
getting to the bank over the lunch hour.
You can give employees the choice of whether or not to participate. They
can also choose to have a portion of their pay deposited to their accounts
and receive the remainder as a live check, and they may elect to split
deposit amounts between six different bank accounts in up to six different
banks.
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OSAS Direct Deposit Offers Choices and Flexibility With These Key
Features:
- You'll improve security with Direct Deposit vouchers.
Participants receive these confimation documents rather than a "live"
paycheck, so there's no chance of a paycheck being lost or stolen.
- You can create deposits by dollar amounts or percentages. This
information can be changed at any time once a test run or "prenote" has been
approved by the bank.
- Save time by processing multiple checks per employee in one
Direct Deposit run. You can also mix checks and Direct Deposit vouchers.
Print checks and then print Direct Deposit vouchers for those checks that
are being direct deposited. Check history will reflect the amount and bank
account of each deposit.
- You'll be able to see how much of the net pay for each employee is on a
check and how much is deposited by using the Edit Register. This "working
document" should be run before you print checks to make sure all of the
information is correct.
- Choose whether or not to use Direct Deposit when processing checks. If
an employee is going on vacation and needs a check early, a normal paycheck
can be prepared for that employee.
- Do you wish you could process payroll separately for the individual
departments in your company? You can. Multiple batch processing allows you
to post multiple payrolls within a single day. A direct deposit file will
be created for each payroll batch.
- Direct Deposit automatically creates the prenotification file required
by banks in standard ACH (Automated Clearing House) format.
- For a final audit trail, run the Check Register after checks are printed
and file the hard copy.
- Instantly access Direct Deposit information for each employee by viewing
it on the screen. You can then print a master list.
- Use the ACH File Creation Report to give you a breakdown of each
employee's account.
- You can access Direct Deposit information through Report Writer, and you
can also create your own customized reports.
- Train your staff on Direct Deposit procedures by using the sample data
provided.
NOTE:
Direct Deposit requires Open Systems Payroll v5.1x and Open Systems
Resource Manager v5.1x. It produces its own reports and it adds
information to some standard OSAS Payroll reports. You will need a modem and
communications software to transmit the Direct Deposit file to the bank.
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