Using MYOB Direct Deposit

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Using MYOB Direct Deposit

Note: You must subscribe to MYOB Direct Deposit to make electronic payments to employees

Note to upgraders:
If you've upgraded from a version previous to Premier 2005 (v14), the way you process payroll has changed

Using Process Payroll, you have the option to print checks for your employees, pay them cash or pay them by direct crediting from your bank.

Applying and setting up

To get started paying employees electronically, you must first apply to MYOB Business Services. (To apply for an MYOB Vendor Payments/Direct Deposit account)

Once approved, you will receive a Merchant ID, User Name and password that you enter in the MYOB Business Services Setup window. (To enter setup information for MYOB Vendor Payments/Direct Deposit)

Also in the MYOB Business Services Setup window:

Select the account from which your electronic payments will be drawn. This account will be the default account in the Pay From Account field in the Prepare Electronic Payments window.

Mark or unmark the preference to Check for Online Error Notifications when MYOB Premier Accounting is Launched. If you mark this, the window that lists rejected electronic payments will appear each time you open your company file. We recommend this preference, as this is important information that you won't otherwise see without opening the Prepare Electronic Payments window and clicking the Check Updates button.

Entering bank information

To pay your employees electronically, you'll enter bank information for your company and for each employee you want to pay electronically. Employee information is entered on the individual's Employee Card. (To enter bank information for electronic payments)

Choosing a linked account

When you use Process Payroll and choose the pay your employees electronically, the employee payment is held in the linked account for electronic payments until you're ready to process the electronic payment. (To choose a linked account for electronic payments)

Error messages

There are a number of reasons why a transaction may not process successfully: insufficient funds, incorrect bank account, a communications error with the financial institution. See Electronic payments error messages for a listing of the messages you may see and an explanation of what they mean and what you may do in response to them.

Note: How to go to the Internet to visit Payments Gateway

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