Lesson 4.2: Employee Direct Deposit

FastFund Payroll gives you the ability to pay your employees via ACH Direct Deposit through its partner, National Payment Solutions. Utilizing direct deposit optimizes your payroll process by reducing administrative costs, eliminating the need to print and distribute physical paper checks, and providing your staff with safe, convenient access to their wages.

Before configuring an individual employee for direct deposit, your organization must have already successfully applied for and enabled the National Payment Solutions service within your global Company Setup. Additionally, you must obtain a signed Direct Deposit Authorization Form from the employee, accompanied by a voided check or official deposit slip to verify their account details.

Important Security Note: Because the direct deposit setup involves highly sensitive banking data, the setup fields are located on the Payroll tab within the Employee record. Only users who have been explicitly granted the specific Payroll permission in their User Setup will be able to access this tab.

Setting Up Employee Direct Deposit To configure an employee for direct deposit, follow these steps:

1. Navigate to Lists > Employees and click on the specific employee’s name to open their record.
2. Click on the Payroll tab.
3. Scroll down to the Direct Deposit Information section at the bottom of the screen.
4. Check the Direct Deposit Enabled box. This signals the system to generate an electronic ACH transmission rather than a physical paycheck for this employee.
5. From the Account Type drop-down menu, select either Checking or Saving.
6. Enter the employee’s 9-digit Routing Number.
   • System Feature: When you enter the routing number, FastFund will automatically generate a verification pop-up displaying the name of the bank associated with that number. Click OK to verify the bank is correct.
7. Enter the employee’s Account Number.
8. Click SAVE.

Direct Deposit Notifications By default, FastFund Online will automatically email a secure PDF copy of the direct deposit pay stub to the employee whenever a payroll is posted. To protect the employee’s sensitive financial data, this PDF is encrypted. The employee must enter the last four digits of their Social Security Number as the password to open and view their pay stub.

If an employee prefers to receive a physical printout of their pay stub instead of an email, you can easily turn off this automated feature for their profile. Simply check the Notifications Disabled box located right next to the Direct Deposit Enabled checkbox.

The Golden Rule of Direct Deposit Timing As a reminder from your global payroll configuration, ACH transactions are subject to strict federal banking timelines. When running a direct deposit payroll, you must successfully post the batch and send the transmission to National Payment no later than 5:00 PM (Pacific Time) three federal banking days prior to the actual paycheck date.