MANAGE EMPLOYEE BANK INFORMATION

Use this screen to enter the information Costpoint uses to generate direct deposits of employees' pay. Each employee can have a maximum of 10 different direct deposit accounts for the distribution of his net pay. You can enter:

• A fixed deposit amount

• A percentage of net pay

• A residual amount

• A combination of these methods

You must designate the employee's entire net pay as a direct deposit or as a printed check. Costpoint does not support a combination of a direct deposit and a printed paycheck. For each employee who wants to participate in direct deposit, you specify:

• The transit/routing number that identifies the employee's bank (bank ID), found on a check or deposit slip.

• The individual's account number, found on a check or deposit slip.

• A transfer code that indicates the type of account and initial notification (prenotification) on this screen.

Negative net pay amounts are not accepted for direct deposit.

Enter employees on this screen after entering employee bank information on the Payroll Direct Deposit Banks screen and before using any other direct deposit screens. You must also set up employees on the Employee Info tab of the Manage Employee Information screen.

During initialization, set all employees to "prenotification" codes and transmit the ACH File to the bank. Then, for the following pay period, switch all "prenotification" codes to "live" codes.

Each pay period, add employees electing to join the direct deposit program to this screen, with "prenotification" codes, before generating the bank deposit file. After you generate and transmit the bank deposit file, change all prenotification codes to "live" codes and add the methods and percentages or amounts.

You will not be able to access this screen if there are any records in the old EMPL_BANK_HDR, EMPL_BANK_LN, and EMPL_BANK_PEND_LN tables. To address this, run the Restore Employee Bank Information toolkit.

Location

Identification

Employee

Enter, or click to select, the employee ID in this required field. The employee's name displays in the adjacent, unlabeled field.

Bank Info

Active Bank Accounts

Active

Select this check box to activate direct deposit for the employee, or clear the check box to suspend or stop an employee's direct deposit.

Mail Direct Deposit Advice

Select this check box to print a payment advice for the employee. If you do not select this check box, payment advices are not printed for the employee.

Active Residual Account Rank Number

You must set up an account to receive any residual amounts and it must be the lowest-ranked account. Use the drop-down list to specify the rank number (1 to 10) for the account that receives any residual amounts. This is a required field.

Vendor Update Password

Enter the password that allows you to make updates to vendor information.

You must enter a password if you change either one of the following screen options, and if both the Add/Update Vendor on Add/Update of Employee check box (on the Configure Vendor Settings screen) and the Record Vendor Info Updates check box (on the Configure Accounts Payable Settings screen) are selected:

• Active check box

• Active Residual Account Rank Number drop-down list

Pending Bank Accounts

Direct Deposit File Created

If you select this check box, the accounts in the Pending Bank Accounts subtask replace the accounts in the Active Bank Accounts subtask when you run the Activate Pending Employee Bank Information utility for the employee's pay cycle. This check box is automatically selected when the Create ACH Bank File application is run and the employee's prenote accounts are included in the direct deposit file.

Clear this check box if the bank rejects the accounts. If you leave this check box cleared, the data in the Pending Bank Accounts subtask does NOT replace the Active Bank Accounts subtask when you run the Activate Pending Employee Bank Information utility for the employee's pay cycle. If you clear this check box, all features in the Pending Bank Accounts subtask are available, including , , and .

Pending Residual Account Rank Number

You must set up an account to receive any residual amounts and it must be the lowest-ranked account. Use the drop-down list to enter the rank number for the account that will receive any residual amounts.

Subtasks

• Table Information

  Changes to this screen update the following tables:      

  • Employee Bank Header — EMPL_BANK_HDR    

  • Employee Bank Line — EMPL_BANK_LN