Where a payee is to have their earnings paid directly into their bank account by electronic funds transfer it is necessary to record the details of the payee's bank account before the payee record can be saved.
It is possible for a payee to split their earnings between multiple bank accounts in which case you can record the details of each of the payee's bank accounts when creating the payee record or you can add additional bank accounts at a later stage. However, if the payee has a payment method of EFT it is mandatory for the details of at least one bank account to be specified on the payee record before the payee record can be saved.

How to Record the Payee's Bank Account Details

To record a payee's bank account details, follow the procedure below.

How to Record a Payee's Bank Account Details
	On the Payee Entry screen, navigate to the Banking Details section and click Add at the top of the section. The Add/Edit Account Details dialog box opens.
2.	In the Account Name field, type the name of the account into which the payee will receive their pay.
3.	In the NCC field, key in the National Clearing Code number that identifies the branch at which the payee's bank account is held. The Branch* field automatically populates with the name of the bank branch that corresponds to the NCC number that you keyed in.* Tip: If the NCC number that has been provided is less than 6 digits, add a leading zero to the NCC number. For example, 31750 should be keyed in as 031750. If the NCC number that the payee provides does not match an existing branch name, the Branch field displays the text Branch Not Found. If this is the case, check that you have keyed in the NCC correctly. If you keyed in the NCC correctly but the branch name still cannot be found, you can still save the payee record regardless.
4.	In the Account Number field, type the payee's account number for this bank account.
5.	In the Account Reference field, type the payment reference that will appear on the payee's bank statement whenever a payment is made into this account.
6.	In the Description field, type a textual description of the payee's bank account.
7.	Click Save. The Add/Edit Account Details dialog box closes and the bank account you have added is listed in the Banking Details section of the Payee Entry screen.

FastTrack360 Online Help

Recording the Payee's Bank Account Details (Payee NZ)

How to Record the Payee's Bank Account Details

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