Banking Details

If you specified EFT or Bank Transfer as the payment method for an employee, you must enter at least one bank account. In the Employee master file you can enter as many bank accounts as required, for example if an employee requires their pay to be split over two or more accounts.

Adding a Bank Account:

  1. Once the employee file is open, select the Banking node, then click the Add New button.
  2. Complete the settings on the pop-up bank account screen as required:
    3. Field Explanation Wizard
    BankStateBranch This is the BSB number of the employee's bank. If you enter a valid BSB, the bank and branch will display. If the BSB is not recognised but you are sure it is valid, click UNKNOWN to add a BSB as you work.

    Step 6 of the Employee Creation Wizard - "Pay and Conditions"
    Banking window (displayed when payment method is Payment Method is Bank or Electronic Funds Transfer).

    The completed information is then displayed in Step 7: Bank Accounts.
    Account No Enter the bank account number provided by your employee.
    Account Name Enter the name in which the account is held.
    Lodge Ref. The lodgement reference identifies the payment source on the payee's bank statement. You can enter up to 18 characters.
    Note that if this is left blank, the EFT file generation process will use the default company lodgement reference.
    Do Percentage If this account receives a percentage, rather than a fixed dollar amount from this employees net pay, then select this box.
    Amount If you selected Do percentage, enter the percentage of net pay which will be paid into this account, otherwise enter the dollar amount which will be paid into this account. You do not need to enter a $ or % sign.
    Balance Indicator

    Select if this account will receive any remaining balance of net pay.

    If this is the only account for this employee, you must tick this box.
    Update Flag Select if you want the file to be flagged when updates are made.
  3. Once you have entered all the required information, click APPLY.

Editing a Bank Account:

  1. Select the bank account
  2. Click the Edit button
  3. Edit the required settings for the bank account (as per previous table).
  4. Click Apply

If you add an account in error, select it and click delete.

Multiple bank accounts

Banking splits can be used to divide an employee's net pay among more than one account. For example, a standard banking split might specify $300 to the first account, with the remainder going to a second account.

When defining a banking split, you should always place any fixed dollar amounts at the top of the list (use the up and down arrows to re-order accounts if necessary). Select the balance indicator for the account which receives the balance.

Rules Governing Bank Accounts

There are certain rules governing the use and set up of bank accounts in HR3pay. These include:

  • Any fixed dollar amounts are deducted first and so should always be placed at the top of the list. Use the Up and Down buttons to re-order the items if required.
  • If only one account is created, the balance indicator will be ticked by default. If there are two or more accounts, the system will automatically select the first account in the list. You cannot define bank accounts without selecting a balance indicator.
  • Accounts with a fixed dollar amount take precedence over percentage based accounts. Using the example above, if net pay was $200, then all pay would be allocated to account 1 with nothing remaining for account 2.
  • When there are two or more dollar based accounts, the salary will be allocated on a top down basis.