This lesson will discuss Electronic Fund Transfers, also referred as Direct Deposit, and how to perform them in the eNETEmployer program. There are a number of steps you need to perform before you can create the actual EFT file. These most important step is entering bank information for both your company and for each employee who is to be paid via EFT.

For detailed Online Help about this feature, visit:
• http://www.enetemployer.com/help/en/e...

The company's EFT information is entered EFT screen, accessible by choosing the Current Payroll EFT menu command. This is where you enter the company's financial information, including the name of the bank and account information.

Once that step is complete, you would select the Employee Bank Accounts menu command and enter the bank information for each of the employees.

If you are using the EFT feature to pay your employees, you can distribute the funds for each employee into up to three different bank accounts.

Each bank can also be assigned a Maximum Amount a "cap" on the amount of funds that can be deposited in the bank during the EFT procedure.

Once the baking information is complete, you would move to the Reports screen and choose the Generate Report option for the EFT row. This action generates the EFT file that can now be transmitted to your company's bank for final processing.