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Electronic Fund Transfer (EFT) - (Payroll Tab)

The following step is optional - If you do not pay your employees via Electronic Funds Transfer (EFT) / Direct Deposit, you can skip this screen.

The Electronic Funds Transfer (EFT) feature (also referred to as Direct Deposit) allows you pay your employee's electronically by transferring funds directly to their bank account or financial institution. This screen allows you to enter the information that will be used to create the EFT file that will be forwarded to the company's bank (or any other financial institution) for insertion into each employee's account. The EFT file is a collection of net pay amounts formatted in the Canadian Payment Association's standard format.

Video on Electronic Fund Transfers (EFT) in eNETEmployer Tutorial on Electronic fund Transfers (EFT) in eNETEmployer
Video Lesson Online Tutorial

Common Buttons

Visit the Button Descriptions help page to view detailed descriptions of every button that appears on your screen (whether in the Button Bar at the top of the table, or in the table itself). Note: If a button's text appears in a Grey color, either the command is not applicable to the current page, or its function has already been applied (e.g. some items can only be added once, therefore the New button will be unavailable on certain screens after it is used).

Sample command buttons



The following section displays help for the various cells and columns shown in the main table on this screen. If you see a help description on this page for a column that does not appear on your screen, you can add the additional column to your view by using the Customize option under the Views button (located at the left side of the screen just above the main table). Refer to the Customize View help page for more help on this feature.


Audit

This button allows you to view a list of changes that have been made to the current item. Choosing the button opens the Audit History window where item changes are shown in colored text. Note: Audit History is a developing feature and subject to updates as new functionality is added.

Bank Data Center

Use this cell to enter the Data Center ID number as supplied by the financial institution. This number is tied to the financial institution's processing center that will receive the file. This number is typically 5 digits in length.

Creation Number

Use this cell to enter a unique number that will help you identify the EFT run for administrative purposes. eNETEmployer increments this number each time a subsequent EFT run is processed. For example, if your first EFT run is assigned 100, the next EFT run will be assigned 101, etc.

EFT Format

Use this cell to specify the financial institution format for administrative purposes only. Currently, the EFT will be formatted in the Canadian Payment Association's standard format.

Enable

Use this cell to specify if the EFT feature will be used when calculating the payroll. Editing the cell will display a checkbox where you can specify the two available options: Yes (EFT is active and enabled) or No (EFT is inactive).

Originator-ID

Use this cell to enter the 10 digit Originator ID (sometime referred to as the Customer Number), as supplied by the financial institution.

Return Bank Account

Use this cell to enter the bank's Transit, ID and Account number, to be used in the event that the EFT is not deliverable. In such a case, the EFT funds would be returned to the company's general account. Undeliverable EFTs can occur in a number of situations; the employee's bank account is invalid, the employee closed the bank account, etc.

The Bank Account number consists of a Transit, Bank ID and Bank Account number. This number is typically found on an employee's personal cheque and must be entered in a specific format as outlined below:

  1. Transit - The transit or bank branch number. This is typically a 5 digit number, e.g. 12345.
  2. Bank ID - The bank identification number. For example, the ID number for the Royal Bank is 003.
  3. Account - The bank account number. This can be up to to 12 digits in length, e.g. 123456789012.