Checkless Payments

Pro Fund Accounting offers checkless payment options for both Payroll and Accounts Payable.

In Payroll we have the Direct Deposit option, which create a text file for your bank. This file contains all the employee information necessary to transfer funds from your bank account to theirs. You can also provide your employees with a copy of their check electronically. All of the reports (PR JOURNAL, PR GROSS and NET, PR EFTPS, etc.) are still available.

To use the PR Direct Deposit you first have to contact your bank and get the program set up with them. Then, in PR Deductions Maintenance, set up a Deduction Code DD, with a name of Direct Deposit, a Calc Type 21, and a Calc Order 99. Finally, in Employee Maintenance, set up the Deduction Code DD for each employee in the program. Enter their Bank Account # in the Direct Deposit Acct# field, and their banks Routing # in the Direct Deposit Routing# field, with a C for checking or an S for savings. After the payroll is calculated, run the Payroll Direct Deposit program to create the file for your bank.

Accounts Payable is handled a little differently. We do not create a text file for your bank. Most banks have an eBill Pay option. Once you have this setup with your bank, it’s just a matter of checking the EFTP box in Vender Maintenance. This will flag the payments as being made electronically. You can generate reports for your venders notifying them that a payment has been made. The APPOST and APPAY procedures are not affected.