Bank Module

Banking Made Easy. Benefits include the following:

 

 

• Direct Deposit - This provides for the transmission of individual employees payment information at the completion of each payroll. HDSI’s banking package also prints a report detailing data to be transmitted. When report is run, the data file created from payroll posting is automatically sent to local PC. From there data can be forwarded to your financial institution.
• Positive Pay - In order to help prevent bank fraud, data regarding checks recently created can be forwarded to your financial institution prior to the processing of those same checks. In this manner, your financial institution can verify payee and payment amount prior to releasing funds. HDSI’s banking package also prints a report detailing data to be transmitted. When report is run, the data file created from running either/or accounts payable/payroll checks is automatically sent to local PC. From there data can be forwarded to your financial institution.
• 401k - When it comes time to report 401k information to the plan administrator, this application will make the job easier and faster. With HDSI’s banking package you can print and transmit contribution data for each payroll. In addition, an employee census report can be created for the plan administrator either monthly or annually.