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 OSAS, makes life a whole lot easier. Give your employees another benefit: peace 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.

OSAS Direct Deposit Offers Choices and Flexibility With These Key Features:

• You'll improve security with Direct Deposit vouchers. Participants receive these confirmation 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 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. For a final audit trail, run the Check Register after checks are printed and file the hard
• copy.
• 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.