Bank Details

This window allows for the setup of employees bank details in relation to net pay and any deductions requiring a bank account.

Set-up for this Screen

Screen and Field Information

This section details the different parts and fields of the screen.

 

Rules and Guidelines

  • An Allowance/Deduction code should be setup on the Salary window that contains the amount of the deductions.
  • The Allowance/Deduction code used when setting up the deduction must then be used to define the details on this window.
  • When the Payrun is processed, the Bank Details to be used for the employee are the ones effective at the Payment Date set on the Payrun Header screen. This means that if a retrospective payment is being performed as part of the Payrun, or the employee is paid up to the end of the month but the money transaction is completed on the 15th of the month, then the money will be distributed in between the accounts registered for the employee as Net Pay and Bank Splits in the record current on the given Payment Date, and not the ones that will be or were effective at the end of the Pay Period.
  • Past effective dated Bank Details can be adjusted. However, this will not trigger any retrospective processing as the employee has already been paid.
  • When entering or maintaining Bank Details, it is important to include a Change Reason.
  • Bank Splits (A/D Codes with Classification different from 'K') are not displayed on this screen and A/D codes with Classifications 'K' will be not be displayed on the Allow/Deduct screen.
  • The values are attached to a unique period of time to create a unique Bank Details effective dated record.
  • The information on this screen corresponds to the values entered as part of the employee Hire, and will be displayed as read-only. In case there is more than one existing effective dated record, the current effective record is displayed.

  • To create a new record, click Change, and the second level Toolbar will be displayed with the From date field automatically populated with today's date (if the record on screen is the current record) and the To date field with '31/12/9999' (or if future records exist, next record From date - 1 day) displayed as read-only (Effective Dating 1). If the record being looked at is a past or future record, it will default to that record set From and To dates.
  • You may create a new future effective record by modifying the date in the From date picker to a date in the future, and changing the information in the form (Effective Dating 2). It is not possible to create a new effective dated record prior to the employee Hire Date.
  • Once an employee is hired, a record is created for all existing employee-related screens where Effective Dating is applicable. From date is matched with the employee's Hire Date, while the To date is '31/12/9999'.
  • Deleting any effective dated records will result in the previous record being extended through the length period of the deleted record.
  • Click Effective Dating for more information on the effective dating functionality.