There are some excellent features in Sage 50 which allows the handling of money and finances in an easy and safe way. Through these features, Sage software aims to provide unparalleled support to its users. One such feature of Sage 50 accounting software is Direct Deposit.
Sage 50 allows direct deposit of paychecks and other invoice payments through its special payment method. The direct deposit feature lets the users save both money and time in payroll processes- money spent on printing out checks and of course, the time taken to do all that and much more.
Similarly, since the money gets deposited directly to the bank account of the employee, it saves energy and time of the employees too. Planning to go for a direct deposit on your Sage account? Here is what you should do!
Sage 50 Software and Direct Deposit
Before starting to use the direct deposit feature, it is necessary to authorize the Sage 50 software to do the needful. Unless authorized and a few essential information added, the direct deposit feature will not begin in the Sage account. Let us get this feature started!
Authorization of Sage 50 Direct Deposit:
For authorization, you need to follow a procedure wherein the Sage team will send an authorization code. This code needs to be entered on the Authorize Direct Deposit window to begin the process.
After you receive the SAGE AUTHORIZATION CODE, do the following:
- Click open the Sage 50 accounts after receiving the authorization code
- Go to System Navigation and select Edit Company Information
- Browse to find Direct Deposit and click on it.
- The Authorize Direct Deposit window will open up
- When asked for the for the authorization code, enter it and click Ok
- Your Direct deposit is authorized and ready
Entering Bank Information in Direct Deposit
Check if the Direct Deposit window status says it is ACTIVE. Now:
- Click on the Direct Deposit arrow. A window will open up requesting bank information
- Enter the banking information for your company account and
- Enter the Cash account and Fee Expense Account details carefully
- You have now successfully entered the required bank details.
Adding Employee Information
Before attempting to use the direct deposit, you need to enter the employee information on the setup. To add employee information:
- Open Sage 50 accounts and click Employees & Payroll
- Now, browse to click on Employees and select View and Edit Employees
- The names of the employees will be displayed. Double-click on the names of the employees to add information. You can add the Banking Information of all the employees on the direct deposit
Syncing Bank Accounts of Employees to Approve Deposits
The bank accounts of employees and that of your company need to be approved with relevant notes before using Direct Deposit. Web-Sync wizard is used for syncing pre-notes.
- Click on Services and WebSync Wizard
- Now, when prompted, enter the Login credentials for the Sage Direct Deposit and
- Click next and Finish to complete
- After Syncing the Pre-notes, wait for at least five banking days before approval
- Click open the WebSync Wizard and proceed till you reach the Finish window
- Now, go to Maintain Employees & Sales Reps and Direct Deposit. Does the status of Pre-Note show Approve?
- The Employee Uses Direct Deposit box is checked and enabled
Your Direct Deposit is all set for use. You can now use the direct deposit to pay your employees. Click on Tasks & PayRoll Entry for depositing the checks.
The direct deposit is an easy and simple way of depositing paychecks. In case of any queries regarding the same, call the Sage tech support team for assistance. The Accountsportal Sage tech support experts are available round the clock to resolve any issues pertaining to direct deposit or other errors in Sage 50 software.