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ELECTRONIC PAYMENT - BANK ACCOUNT ISSUE

nats569
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ELECTRONIC PAYMENT - BANK ACCOUNT ISSUE

i am having trouble setting up the bank account for electronic payments in payroll.

in the help guide, under To Set Up For Bank File Payments it says Click the account your electronic payments will come from. In my Chart of Accounts, we have a "wages account" and a "cheque account", the wages account is where previous payrolls were paid from (now they go to the electronic clearing account by the looks of it) and the cheque account represents our ACTUAL bank account with St George Bank - which is the account they mean when they say the one that electronic payments will come from?

i have entered our bank account details in both of them and tried to process the electronic payment, but when i select download it says - The account selected for payment is missing bank details. Please update the details in the chart of accounts. The only information i haven't entered in the bank details is the direct entry user id which i have left blank as i won't be using direct entry and i haven't ticked the self-balancing transaction box as i don't know what that means.

Please help.

 

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Tracey_H
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Re: ELECTRONIC PAYMENT - BANK ACCOUNT ISSUE

Hi @nats569 

 

Thanks for your post. The account your electronic payments will come from is the actual bank account the payments will be withdrawn from. If payments will be withdrawn from the St George account then this is the account you would select.

 

The Direct entry User ID is an identifying number required by banks when you upload bank files for payment. You will need to get this number from your bank and enter it into that field.

 

A self-balancing transaction is required by some banks to process the bank file. You need to check if your bank requires this, if they do you will need to tick that option.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

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