The Direct Deposit Module allows you to pay your owners via wire transfer. Instead of creating a check, the amounts for the owners that are set up with this module will be put into an ACH file. You will then transmit this ACH file to the bank so that the bank can transfer the amounts into the individual's account. The Direct Deposit Module is an optional module. Contact SherWare for pricing if you are interested in this module.
Edit> Preferences
ACH Info view
Where you set up your company's bank information.
Maintain Menu
Owner Information> Bank Info Tab view
Where you specify which owners to be direct deposited and set up each owner's bank information.
Submitting the ACH
One ACH file will be created at run closing for all of the Direct Deposit Owners. The ACH file will be named according to the run number that created the ACH file. For example: the first run closed in the year 2008 would be named DP2008001.DEP. This file will be saved in the "ACH" folder which is located in the same directory folder where the software is installed. Once the Run is closed, you will be responsible for transmitting the ACH file created to the bank. You will have to communicate with your bank on their procedures for submitting ACH files. Each owner's revenue will then be placed directly into their bank account. You can create an ACH direct deposit file for a run that was closed previously. If all the direct deposit information is set up for the owners, such as the owners are marked as direct deposit and their banking information and your banking information is set up in the ACH Preferences, you can go to Utilities, Recreate Direct Deposit File. You'll be able to choose the run that you want the ACH file created for. This file will be created and placed in the ACH folder for that company you have open. You can transfer this file, (it has a .DEP file extension), to the bank and they can turn it into a prenote for you. This option can be used if you already sent checks out for a run, but need to send the bank your ACH information before they can process your first Direct Deposit run. If a run is re-opened after closing, the ACH file will be replaced when the run is closed again. Because of this, make sure that you are completely satisfied with the run closing before submitting the ACH file to your bank. We do not recommend re-opening a run once your ACH file has been submitted.
Direct Deposit Module
