Processing PR EFT Payments

The PR EFT Payments process is used to generate a NACHA file for electronic funds transfer, facilitating direct deposits to employees' bank accounts.

Before you start

• Ensure all employee direct deposit information is correctly entered in the system.
• Verify that the payroll group and pay period details are accurate.

Steps

1. Navigate to thePR EFT Paymentsform.
2. Select the payroll group for which you want to process EFT payments.
3. Enter the pay period ending date.
4. Specify the effective date of the payment, which should match the paid date.
5. Ensure the paid month matches the effective date.
6. Enter the CM reference field, typically matching the effective date (e.g., 070925 for July 9th).
7. If processing multiple payroll groups, append a dash and number to the CM reference (e.g., 070925-1).
8. Click the update button to assign payment information to all employees being paid by EFT.
9. Go to the download tab and download the NACHA file.
10. Upload the NACHA file to your bank to initiate the direct deposits.

Notes

• Ensure the effective date and paid month match to avoid discrepancies.
• Double-check the CM reference field for accuracy, especially when processing multiple payroll groups.