Sage 50 EFT ( Electronic Fund Transfer) Direct is a built-in feature of the 2016.3 Sage 50 accounting software that is having a lot of advantages, and you don’t need to separately install it. Once the Sage 50 EFT Direct Deposit Integration Setup is completed, the company can enter the banking information of the employees, vendors and customers and carry out different transactions.

Sage 50 EFT Direct Deposit Integration Setup has been divided into three sections.

Section 1:

  • Click Setup on the Sage 50’s main window.
  • Select Settings.
  • Go to the Payment Processing option and click on it.
  • You get two payment options – Direct Payments and EFT Direct. Select EFT Direct by clicking on the radio button.
  • You get a form regarding your bank details. Fill it up correctly.

For the 2017 version and above, the software provides a multiple bank account option. Here you can either go for one bank account as well as bank accounts. Select the Set up a new bank for adding accounts. Or, click on modify existing banks for updating information. Then, select the bank name from the “Select a Bank for direct deposit and pre-authorized debit” drop-down list. And click OK to save all the changes made.

Section 2:

  • Enter the banking information of Employees, Vendors and Customers.
  • Open the employee records.
  • Go to the Direct Deposit Tab for depositing paychecks directly, and enter his banking information.
  • Select the checkbox to change the default employee name. Save it.
  • Now, when you process the employee’s paychecks, the direct deposit option gets automatically selected.
  • Complete the paycheck.

Section 3:

  • When all the deposit cheques are posted, carry on with the following steps.
  • Go to the File menu on the main screen.
  • Select the Import/Export option.
  • Click on the Upload Direct Payments option.
  • Then, click on the Employee Direct Deposit option.
  • You can also use every module’s Upload Direct Deposit option on Related Tasks.
  • To change the transaction options, click on the Display tab. You get to see the updated transaction list.
  • Click Upload Button.
  • Then, review the information uploaded.
  • If it is correct then proceed with the Next button.
  • Save the EFT direct file and choose a location to save.
  • Copy the file name and the location to upload the file to your bank.
  • Click on the Finish button to complete the process.

Once the files are uploaded you need to follow the bank’s instruction for further processing of the file. 

To start with direct deposit, follow the steps-

  1. Sign up with Sage 50 Direct Deposit by contacting the tech team.
  2. You will receive an authentication code, to enter in Sage 50.
  3. Go to the System Navigation area and select Edit Company Information.
  4. Click Direct Deposit and enter your code. Press Ok.
  5. Enter the banking details of your company.
  6. Choose your Cash Account and Fee Expense Account.
  7. Set up employee information. Go to Employees & Payroll and select Employees. Select View and Edit Employee and double click on the employee’s name. Go to the Direct Deposit tab and enter their bank information.
  8. Next, Sync and approve pre-notes. Go to services and select WebSync Wizard. Then enter your login credentials and click Next. Complete the process by pressing Finish on the end.

You need to wait for 5 days after syncing the pre-notes. Next, open the WebSync Wizard and continue till the end to complete it with Finish. Then follow the steps –

  • Go to Maintain Employees & Sales Reps
  • Select the Direct Deposit tab
  • Check the status as Approved, and Employees uses direct deposit check box is enabled.
  1. Go to tasks and select Payroll Entry. Save it and go to WebSync Wizard to process the direct deposit transactions. Enter your login credentials and pin. Click on “Finish”.

To seek advice you can consult a Sage business partner, network administrator, or accountant.