Setup Requirements

This topic discusses:

  • Bank setup requirements

  • Funding setup requirements

  • Disbursement setup requirements

Bank Setup Requirements

Banks and branches are financial institutions that fund payroll or receive payroll calculations.

To set up banks:

  1. Define bank information on the Bank Table page.

    Set up banks on the Bank Table page, including basic information for all financial institutions involved in the payroll funding and disbursement process. You must complete this page before a bank can be identified as a source bank account or as a recipient.

  2. Specify branch information on the Branch Table page (optional).

    Define which branches apply to the banks. A bank can have one or more branches.

    Note:

    Not all countries require bank branch information.

See Defining Banks and Branches.

Funding Setup Requirements

Funding refers to the source of payroll money.

To set up funding:

  1. Define electronic funds transfer (EFT) formats, by country, on the Electronic Transfer Formats page.

  2. Specify source banks for payroll on the Source Bank Accounts page.

    Source banks are where payroll disbursements come from. For each source bank, you identify the appropriate bank/branch, account number, and EFT format.

  3. Define the level of funding on the Pay Entities - Source Bank Link page.

    Each organization can have various levels of funding sources (source banks). One organization might fund its entire payroll from a single bank; another might define funding at a lower level, such as by company.

See Setting Up Funding.

Disbursement Setup Requirements

Disbursement refers to payroll amount destinations. Net pay disbursements can go to payees, and deduction amounts can be disbursed to recipients, such as a health care provider or a government agency.

To set up disbursements:

  1. Define deposit schedules on the Deposit Schedules page.

  2. Define recipients on the Deduction Recipients page.

    Recipients can be entities (general recipients) or individuals (individual recipients).

  3. Assign recipients to deductions.

    This procedure varies with recipient type.

  4. Identify an individual's bank account information and disbursement details on the Bank Account Information page and the Net Distribution page.

    This is necessary for disbursing an individual's net pay electronically.

See Defining Deposit Schedules, Defining Recipients, Assigning Recipients to Deductions and Payees, and Defining Payee Net Pay Elections.