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payroll:tables:bankcodes:eft [2020/03/31 20:14] – created emorenopayroll:tables:bankcodes:eft [2024/12/18 13:42] (current) – emoreno
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 <div #message></div> <div #message></div>
  
-//**Human Resources > Tables > Bank Codes > EFT**//+//**Payroll > Tables > Bank Codes > EFT**//
  
-<WRAP round intro>The Electronic Funds Transfer (EFT) tab is used to create the record for direct deposit of employee payroll checks to their financial institutions. This function is accomplished by creating an EFT file during a payroll run. This file is then given to the employer's financial institution to be transmitted to an automatic clearinghouse. The automatic clearinghouse is normally a centralized federal reserve bank that transmits necessary data for direct depositing to the employee's participating depository financial institution (DFI). The difference between EFT direct deposit and the normal direct depositing option is that EFT depositing requires the employer to deliver the file to the financial institution.+<WRAP round intro>This tab is used to create the record for direct deposit of employee payroll checks to their financial institutions. This function is accomplished by creating an EFT file during a payroll run. This file is then given to the employer's financial institution to be transmitted to an automatic clearinghouse. The automatic clearinghouse is normally a centralized federal reserve bank that transmits necessary data for direct depositing to the employee's participating depository financial institution (DFI). The difference between EFT direct deposit and the normal direct depositing option is that EFT depositing requires the employer to deliver the file to the financial institution.
  
 A check stub is produced for each employee with the actual check portion of the payroll check voided. Employees participating in EFT will have an asterisk (*) printed next to the check number on the payroll journal and the check register. A check stub is produced for each employee with the actual check portion of the payroll check voided. Employees participating in EFT will have an asterisk (*) printed next to the check number on the payroll journal and the check register.
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 ^ Field                                        ^ Description   ^  /*Table with two rows*/ ^ Field                                        ^ Description   ^  /*Table with two rows*/
 ^Immediate Destination|{{page>general:immediatedestination}}| ^Immediate Destination|{{page>general:immediatedestination}}|
-^Company ID Type 5|Type the ten-digit code used to identify the employer. This is either the employer identification number with a 0 added on the end of the number or a leading 1, depending on the client's financial institution.|+^Company ID Type 5|Type the 10-digit code used to identify the employer. This is either the employer identification number with a 0 added on the end of the number or a leading 1, depending on the client's financial institution.|
 ^Originating DFI ID Code|Type the eight-digit code used to identify the originating depository financial institution. This is the LEA's bank's routing number without the last digit.| ^Originating DFI ID Code|Type the eight-digit code used to identify the originating depository financial institution. This is the LEA's bank's routing number without the last digit.|
-^Company ID Type 8|Type the ten-digit code used to identify the employer. This is either the employer identification number with a 0 added on the end of the number or a leading 1, depending on the client's financial institution.| +^Company ID Type 8|Type the 10-digit code used to identify the employer. This is either the employer identification number with a 0 added on the end of the number or a leading 1, depending on the client's financial institution.| 
-^Employer Offset Account|Type the offset account number used to debit the employer's bank account. This number is the district's payroll bank account number, and will be included in the EFT file. Leave blank to exclude debits from the EFT file.| +^Employer Offset Account|Type the offset account number used to debit the employer's bank account. This number is the district's payroll bank account number and will be included in the EFT file. Leave blank to exclude debits from the EFT file.| 
-^Immediate Origin|Type the ten-digit code used to identify the EFT sending point. There is a leading space plus the routing number for the district bank.|+^Immediate Origin|Type the 10-digit code used to identify the EFT sending point. There is a leading space plus the routing number for the district bank.|
 ^Originator Status Code|{{page>general:orignatorstatuscode}}| ^Originator Status Code|{{page>general:orignatorstatuscode}}|
 ^Bank Code|Click {{:images:dropdown.gif|Drop-down Arrow}} to select the locally assigned code of the district's bank.| ^Bank Code|Click {{:images:dropdown.gif|Drop-down Arrow}} to select the locally assigned code of the district's bank.|
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-Click **Save**.+VCV Click **Save**.
  
  
 ====Other functions and features:==== ====Other functions and features:====
  
-^Retrieve|++Retrieve data.|{{page>general:retrieve}}++| +^Retrieve|{{page>general:retrieve}}| 
-^Print|++Print bank table data.|{{page>general:print_bankinformation}}++|+^Print|{{page>general:print_bankinformation}}|
  
  
payroll/tables/bankcodes/eft.1585685675.txt.gz · Last modified: 2020/03/31 15:14 (external edit)

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