Use this screen to assign IDs to the banks or financial institutions that are affiliated with your company; in addition, you can use this screen to enter the names of financial institutions that receive direct deposit payments for your employees. The bank ID is a nine-digit number usually found in the lower left-hand corner of a check or deposit slip. This ID may be referred to as a routing or transit number.
You must set up direct deposit bank IDs in this screen before you can use any other Direct Deposit bank screens.
You cannot delete a record in this screen if it exists on the Manage Employee Bank Information application. In this circumstance, an attempt to delete a record in this screen triggers an error message indicating that the record cannot be deleted. This validation ensures that a bank record cannot be deleted from the Configure Bank Routings screen when a pending record exists in the Manage Employee Bank Information table.
Enter the bank ID. This number typically is found in the lower left-hand corner of a check or deposit slip. It is sometimes referred to as the routing and transit number.
Enter the bank name that corresponds to the Bank ID.
Banks can be used for Accounts Payable EFT payments, payroll direct deposit payments, or both. Enter the appropriate usage code for this bank:
Accounts Payable — Accounts Payable only
Payroll — Payroll only
Both — Both Accounts Payable and Payroll