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What is direct deposit? |
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"Direct
deposit" refers to the action of distributing payroll check
amounts directly to employee bank accounts. This avoids having
to go to the bank to deposit one's paycheck. |
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What is "Direct Deposit Made Easy"? |
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This
is the software enhancement, developed by Custom Software Experts,
that you can install to your existing RealWorld® Payroll
system and thereby have direct deposit capabilities for your
company. |
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What will the employee get on payday? |
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The
employee will receive a "Voided" check that indicates
the total amount of their paycheck has been deposited directly
to their bank account. A "direct deposit" draft notation
will display on the check. |
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Does direct deposit handle partial deposits
of paychecks? |
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No.
The total net amount of an employee's paycheck must be deposited. |
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Does direct deposit handle multiple bank
accounts for an employee? |
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No.
It handles one bank account per employee. The disbursement bank
may offer this option for your employees. Simply request it from
your bank. |
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What is the "disbursement bank"? |
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The
disbursement bank is that bank your company has chosen to handle
your direct deposits. The disbursement bank offers direct deposit
services. This is the overseeing bank that will receive your
electronic direct deposit information and will then process it
and, in turn, disburse (send) monies to each individual employee
bank and bank account. |
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Do employees have to bank at a specific
bank? |
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No.
They can continue to bank wherever they wish. |
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How does direct deposit work? |
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Once
you install the software to your payroll system, you will have
access to additional menu functions related to direct deposit.
You must then setup each employee that wants to participate in
the program with certain payment and bank account information.
Additionally, you must setup specific bank routing information
provided by the disbursement bank. Once these setup steps are
completed, an initial "test" run must be performed
for each new employee to verify and initiate their deposit information
with the disbursement bank. After setup has been completed, you
will run payroll as usual. Each pay period you will create the
NACHA file and transmit it to the disbursement bank for processing. |
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What is a NACHA file? |
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NACHA
stands for National Clearing House Association. This is
the standard file format for transferring funds around from bank
to bank. The software will create a NACHA file for you to then
transmit to the bank for processing. All banks recognize the
same NACHA standards that the software creates for you. |
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Do I have to enter employee information
each week? |
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No.
You will do this only once. Each week you will run payroll as
usual and then you will create the NACHA file and transmit it
to the bank. That's all there is to it. |
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How do I "transmit" the NACHA
file to the disbursement bank? |
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When
you select your disbursement bank, the bank will let you know
how they want their NACHA file to be transmitted. You will most
likely transmit the file via modem or by using a software the
bank provides you with to expedite the process. Check with your
bank. |
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Can an employee change back to getting
a paycheck? |
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Yes,
an employee can be dropped from the program by simply deleting
them using the Employee DD Information menu selection.
The software will then begin printing a normal paycheck for them
once again. |
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What if I need help setting up the software? |
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No
problem. Simply call us for assistance in getting the software
installed and running. The software will also come with instructions
on how to install, setup and begin using the product. |
Thank you for your interest
in our "Direct
Deposit Made Easy" software enhancement, made specifically for RealWorld
Payroll. We know you will enjoy the benefits of having payroll
direct deposit functionality for your company. Let us know if
you have any additional questions. We'll be happy to help.
Please select from the following:
PLACE AN ORDER
CONTACT US
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