Once the Wage entries have been created, the money must be transferred to the employee. How this happens depends on the payment method allocated to the wage entries.
Pay by Cash
Use the Wage Payment Breakdown report to itemise and total the wages to be paid in Cash. This makes knowing how much cash to have on hand simple.
Pay by Cheque
Use the printed Payslips or the Wage Payment Breakdown report to assist with issuing cheques. Note that wage entries cannot be produced on printed cheque layouts and must be handwritten.
Electronic Payments
Amounts recorded within Wage Entries to be paid into bank accounts can be compiled into a File in the appropriate format for import into banking software or Internet banking. This eliminates manual keying of bank details each week.
Before attempting to use this function the Dealership banking details must be complete. Open the Dealership client card, go to Banking, and complete all fields on the Bank Account & Electronic Banking tabs.
Important Note re User Id field - It has been a requirement in the past that files such as these contain the Direct Entry User Id of the client (you the dealership). This number was obtained by you from your bank and permitted the creation of files containing multiple payments. Most banks' internet banking interfaces permit file imports WITHOUT a DE User Id. Dealerlogic still requires a DE User Id be entered, but if you don't have one and don't need one, enter any number into the field. |
•From the Payment group on the Accounting ribbon, select Electronic Payment File. Choose the Bank account the transactions were originally recorded into, such as Payroll Cheque Account, and the date range of the transactions to locate. Then enter the date the transactions are to be processed by the bank. Note that some banking software permits the post-dating of entries, whilst some insist on same day entries only.
•From the browse, individual wage entries can be selected and de-selected for processing. Individual line items within a single wage entry where one wage entry contains payments to multiple bank accounts cannot be individually selected or de-selected. You can deselect an entire wage entry, but not line items within a wage.
•Once selection is complete press Process. You will be prompted for a file name which defaults to EWage. Alter this to something more meaningful to you if preferred, then Save.
• The file is now available to import into the banking software in the normal manner.
The file created will use all data entered for the employee. On the Employee’s bank statement will appear the date of the entry, together with the remitter name and the text "Pay dd/mm/yyyy". The remitter name is the name of your company, and is derived from the Dealership Banking Details as stored on the Card file in the Account Name field.
Note: Some bank formats require the file to include a 'balancing entry' and some don't. This is the debit portion that is applied to the dealership account. Use the tick box in Accounting, Setup, Preferences, Banking to indicate whether you require this line in the file or not.
•If you use a clearing account for the Payroll Cheque Account, a Transfer Money is required to move the total of the pay run from the main bank account to the linked Payroll Cheque Account.