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DIRECT DEPOSIT

Choices and Flexibility for Employers and Employees

TRAVERSE Direct Deposit makes payday easier for everyone. Your employees don’t need to worry about getting their paychecks to the bank on time—and standing in line when they get there. Direct Deposit, a TRAVERSE Payroll companion module, makes life a whole lot easier. Give your employees another benefit: peace of mind. They’ll know that their paychecks will be deposited directly to their bank account. And, you’ll get more productivity on payday.

With TRAVERSE Direct Deposit, you can give employees the choice of whether or not to participate. They can also choose to have a portion of their pay deposited to their accounts and receive the remainder as a live check, and they may elect to split deposit amounts between six different bank accounts in up to six different banks.

Additional Direct Deposit Features:

  • vouchers replace a “live” check, ensuring that a pay check cannot be lost or stolen
  • deposits may be created by dollar amounts or percentages, and the information can be changed at any time once a test run or “prenote” has been approved by the bank
  • process multiple checks per employee in one Direct Deposit run
  • print checks and then print Direct Deposit vouchers for the checks being deposited
  • the Edit Register shows how much of the net pay for each employee is on a check and how much is deposited
  • choose whether or not to use Direct Deposit when processing checks; if an employee is going on vacation and needs a check early, a normal paycheck can be prepared
  • multiple batch processing allows you to post multiple payrolls within a single day; a file will be created for each payroll batch
  • the Check Register can be run and filed after checks are printed for a final audit trail
  • use the Direct Deposit File Creation Report to give you a breakdown of each employee’s account
Note: Direct Deposit requires TRAVERSE Payroll. It has its own reports and it adds information to some standard TRAVERSE Payroll reports. You will need a modem and communications software to transmit the Direct Deposit fi le to the bank.

Click here to see a list of all available TRAVERSE® applications