This screen allows you to create a file of the employee's Net Pay in a format acceptable by the company's financial institution (e.g. bank). This file can be forwarded via a modem or banking software to the company's bank (or any other financial institution) for insertion into all employee's accounts.

Setting up this information requires that you have made previous arrangements with your bank and the bank has supplied you with the following information:

EFT Format - Choose the financial institution for which you wish to create the EFT file.

Originator-ID - Enter the 10 digit Originator ID, or Customer Number, as supplied by the financial institution.

Bank Data Center - Enter the Data Center ID number as supplied by the financial institution. This relates to the financial institution's processing center that will receive the file. This number is usually 5 digits long.

Return Bank Account
The Return Bank Account is where the funds will be returned should they not be deliverable (e.g. an invalid employee bank account, or if an employee closed the account). Normally these funds would return to the company's general account. The Bank Account consists of a Transit, Bank ID and Bank Account number. The following information can be found on the bottom of the cheque:

Transit - Enter the return Transit or bank Branch number.

Bank-ID - Enter the Bank ID number. The Bank of Montreal is defined as 001, TD Bank is defined as 002, Royal Bank is 003, etc.

Account - Enter the return Bank Account number.

Creation Number - Enter a Creation Number for the EFT. This number can be any number of digits, and must be incremented each time a new EFT is processed. For example, if your first EFT run is assigned "100", the next run can be assigned 101 etc.

Status

Enabled - Activates the EFT for use with this payroll.

Disabled - Deactivates the EFT. Choosing this option will prevent the EFT from being used in this payroll.

Save - Saves the current changes. Note: If you do not Save your changes, they will be discarded when you leave this screen.

Cancel - Cancels the changes and reloads the current values.

Help - Opens this help page.