Banking in the United States

In the United States, employees can choose to be paid by check, direct deposit, or a combination of the two. If an employee chooses to be paid by direct deposit, the funds are transferred electronically to the employee's bank account. A prenote may be required before the first electronic transfer. You can create a prenote and generate a check while waiting for the prenote to be processed.

You can use the banking process in PeopleSoft Global Payroll for United States to complete paycheck processing. During source bank setup, you define and assign payment IDs to any type of payment. Because organizations offer their employees several different payment methods, such as checks and bank transfers, assigning unique payment IDs to payment types is important. During bank processing, the system determines the type of payment and the appropriate payment number to assign to each paycheck.

In the United States, direct deposits are distributed to banks through the National Automated Clearing House Association (NACHA). For NACHA to electronically transfer money, companies must send direct deposit files, using the formats required by NACHA. PeopleSoft Global Payroll for United States supports the PPD file format used for payee net pay distribution.

Garnishments can be submitted electronically as part of payment processing. PeopleSoft Global Payroll for United States supports the CTX file format used for garnishments.

With PeopleSoft Global Payroll for United States, you can generate the Net Payment report, the Net Distribution Exception report, and the transmittal report for child support garnishments.