<\/span><\/h3>\n\n\n\nNow proceed to the next section to enter your bank account information<\/strong>. Fill in all of the information on the screen by clicking the EFT button. This includes the following.<\/p>\n\n\n\n\nReturns Institution Number<\/strong>: Enter the institution number provided by your bank. Returns Account No. : Enter the account number to which you want the funds to be transferred due to account closure or information that has been mistyped.<\/li>\n\n\n\nData Center Number<\/strong>: This is the data center number that your bank has given you. This information is not required by all banks.<\/li>\n\n\n\nOrganizational Reserved Fields<\/strong>: Fill in the number provided by your bank.<\/li>\n\n\n\nElement Identification<\/strong>: The CPA standard is the only one that uses this field.<\/li>\n\n\n\nCode of Settlement<\/strong>: Put the settlement code in here. This is not required by all banks.<\/li>\n\n\n\nAccounts Payable and Receivable Transaction Code<\/strong>: Either enter a standard value or a custom value. Accept the code displayed on-screen or enter the CPA transaction code.<\/li>\n<\/ul>\n\n\n\n<\/span>Step 3: Employee, Vendor, or Customer Record<\/span><\/h3>\n\n\n\n\nClick Close<\/strong> and return to the New Company<\/strong>, you’ve finished entering all of the information screens.<\/li>\n\n\n\nTo save<\/strong> your entries, click Add<\/strong>.<\/li>\n\n\n\nSage 50 EFT Direct will automatically import your customer, employee, and vendor information after you’ve entered your bank information.<\/li>\n\n\n\n Add all of the necessary information to the employee (customer or vendor) tab.<\/li>\n\n\n\n Employee Maintenance<\/strong> is the option to choose. Select an employee and then press<\/strong> the Modify button.<\/li>\n\n\n\nFill in the bank account information and the accounts into which you want to deposit<\/strong> your paychecks.<\/li>\n\n\n\nSet the employee’s Direct Deposit status<\/strong> to Active by checking the box.<\/li>\n\n\n\nTo add an amount to this line in the file you’ll send to the client, check the Active box.<\/li>\n\n\n\n To save<\/strong> your entries, click Save<\/strong>.<\/li>\n<\/ul>\n\n\n\n<\/span>Step 4 – Payroll Section<\/span><\/h3>\n\n\n\n\nGo to the next section after you’ve finished entering the information “Using sage 50 as an EFT “and make a file that you can send to your bank.<\/li>\n\n\n\n Select EFT Direct Payroll Generation<\/strong> from the file generation menu.<\/li>\n\n\n\nFill in the information regarding pay periods and dates.<\/li>\n\n\n\n To determine when funds should be deposited into your employees<\/strong>‘ accounts<\/strong>, choose either “Use employee check dates<\/strong>” or “Use default funds available date<\/strong>.”<\/li>\n\n\n\nTo begin extracting payroll data<\/strong> from Sage 50, click Continue<\/strong>.<\/li>\n\n\n\nNow, in Sage 50 EFT Direct, go to the Payroll Selection screen and fill in all of the required information. By double-clicking on a list of employees in the file, you can select it.<\/li>\n\n\n\n To include them all, click the Select field<\/strong> or check the Select All box.<\/li>\n\n\n\nTo create a direct-deposit file and print the report, click the Generation<\/strong> button.<\/li>\n\n\n\nFinally, to create the payroll file, select Yes<\/strong>.<\/li>\n<\/ul>\n\n\n\n<\/span>How to Use EFT Direct in Sage 50 Software<\/span><\/h4>\n\n\n\n