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From Microsoft Dynamics GP
I am processing the US payroll for the US company and i processed all steps of it
but now i want to know how these Direct Deposit go to bank like in other
software the amount deducted as mediator fee from us.
Is there any Microsoft fee or other linking option with banks.
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That is really between you and which bank you have in your area or wish to use. The two banks that I am familiar with are Trustmark and Wachovia.
Note: Wachovia is now part of Wells Fargo, so I guess that makes three banks.
I would suggest if you want a local bank just use the phone book and call a few. Or you could just Bing "Banks in USA" in get not only a lot of banks but web sites that list banks around the country.
Hope this helps,
Thnx
Kindly suggest me which and from whom (Bank in USA) i process my direct deposit as of cheaper and simple way. I am running payroll in USA
The ACH File (which is a text file) is what you submit to your bank.
The exact method of submitting the ACH file depends on our bank. Some have their own software, some just use a webiste that you log into and upload the file, others use a ftp site.
Also, some banks do change a fee per ACH file submitted. This amount usally comes out of one of your accounts at that bank and which account it comes out of depends on you and your bank. Usally it will show up on your bank statement at the end of the month as a separate line item.
Hope this clears things up,
Huzafah:
The Direct Deposit module simply creates a text file in a format that can be tweaked a bit in your setup. That file gets saved on your PC and once payroll is done you submit to the bank using whatever method they choose. This might be an ftp site or a software/tool that they provide with a direct link. The link is not built into GP. I hope this answers your question.
Either ACH file will be given to bank to process our Direct Deposit or other GP report ??
Which document will be presented to bank??
Sounds like Intuit was charging you a fee to get your checks to your bank. With GP the connection is directly between you and the bank. So it would be up to your bank to charge. I have never seen one do so however.
In-fact previously we were using quick-books intuit and in its payroll process we were giving 0.15 cent per check for Direct Depositing at bank, so intuit was our processor.
So is there any role of Microsoft or other type of Mediator.
I have clients with lttile local banks and larger clients using HSBC, I have never seen a fee charged. You simply arrange with your bank how to transfer the ACH file and that is all there is to it.
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