Hello all....
I am new to using the payroll portion of Sage but have been using the software since the early MB6/MB7 years.
I am trying to figure out the direct deposit and exactly what to do to set it up. I bank with Bank of America and they just sent me this....
Good morning, I talked to several of my peers, my manager and also some associates on the online banking channel. We do not have a software or a department that can process direct deposits. Direct deposits have to be initiated by the processor. There is a request known as “Drawdown Wire Request or Reverse Wire Funding” it is use to set up debit authority I don’t know if that is what Sage 100 Contractor is referring to...
The request is to allow the payroll vendor to make draws from your account to fund payroll
- Business clients may use Wire Transfer Debit Authorization Service to fund a payroll account maintained by a payroll vendor at another bank.
- The funds are credited to the account of a recipient designated by our client.
I have read all the articles like this one
on direct deposit but I do not understand how it integrates.
Can anyone help me in the right direction?
John.
