Direct deposit with EasyACCT

Forum|Forum|2 years ago
January 10, 2024
11 replies
48 views

Hello,

I wanted to explore the option of using Direct Deposit with EasyACCT. Anyone use this feature?

Trying to get an understanding of how it works. I understand you create a ACH file. But how has it worked and what is your process?

How do you send the file to your bank, how much do they charge? ( I know fees may vary, I'm looking g for a ballpark number).

Is your clients account charged or are you charging your clients and then pay from your account. Any help is appreciated.

I'm presuming ach files work for A/P too.

Thanks

EasyACCT

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nickeypoo72

Level 6

We do use the direct deposit feature for payroll checks in EasyACCT, but not A/P, so I can only speak from payroll experience. Have you reviewed the information in the Help Menu for how to process direct deposit transactions? That is a good starting point.

As for uploading file to the bank, every bank is different - as well as their fees. Some charge a monthly fee, some charge a per item fee, and some charge both. You will have to contact the bank directly and ask what they charge. Also, each bank should be able to walk you thru their process for uploading the NACHA file - again it differs for each bank. You will also need to ask them for their NACHA spec sheet before you process any transactions so that you can make sure the file EasyACCT produces matches their specifications for processing direct deposits.

Once you have everything set up, processing the files is a breeze!

For what it's worth, in our experience, the local banks are much more user friendly to deal with than the national banks.

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RparAuthor

Level 3

Nickeypoo72,

Thank you for your helpful response.

Can you provide any suggestions on where the funds come from? Do employee compensation go from employer to employee or does your firm collect the funds from the employer and then you pay the employee and taxes?

I'm on my phone, so I'll research the help menu when I get a chance, bit from my experience it would answer any questions beyond processing payroll within EasyACCT.

Thanks again

O

Only4Me

Level 5

You need to find the ACH file, it's usually a WordPad document. You would have to find the line with the incorrect information, place your cursor where the information is and correct it.

It has a bunch of numbers on it, so it's a little scary. For instance, the direct deposit total is $218.50, but on the NACHA file it shows 1572780000218506270, so I would be afraid to change only the 21850 unless you are absolutely sure?

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