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How to set up Payees who are paid using FAST-Bank with bank accounts requiring a combination of dollar and percentage values.
How to set up Payees who are paid using FAST-Bank with bank accounts requiring a combination of dollar and percentage values.
STEP 1 - Add a User-Modified After Tax Deduction for the wages component to be paid to Payee Bank Accounts with a dollar value.
STEP 1 - Add a User-Modified After Tax Deduction for the wages component to be paid to Payee Bank Accounts with a dollar value.
Select Pay Types from the Side Navigation Menu.
Locate the After Tax Deduction by manually scrolling through the Pay Type List, entering the name into Search or using Show Advanced Filters.
Once the After Tax Deduction has been located, select Actions > Copy.
Change Deduction Details as required;
Description.
$ (or % of Net Pay) - Choose $ and enter the dollar amount to be paid into the nominated Bank Account.
Select Available in Deduction Banking and Repayments.
Select Save to save your changes.
STEP 2 - Add the Payee Bank Accounts with a dollar value Deduction in Variable Deduction Banking and Repayments for a Payee.
STEP 2 - Add the Payee Bank Accounts with a dollar value Deduction in Variable Deduction Banking and Repayments for a Payee.
Select Payees from the side navigation menu.
Locate the Payee you require by manually scrolling through the Payee List, entering the name into Search or using Show Advanced Filters.
Once the Payee has been located, select Actions > Edit.
🎯 Edit is unavailable if the Payee is included in an unposted Pay Run. To edit the Payee, the Payee must either be removed from the Pay Run or the Pay Run must be posted/reported to the ATO.
Select Employment and Payment.
Navigate to Variable Deduction Banking and Repayments.
Select the Payee Bank Accounts with a dollar value Deduction in the drop-down list.
Change the Amount and enter the Total Due and Total Paid, if required.
As the Deduction must be included in FAST-Bank, enter the BSB, Account Number, Account Name and Reference.
Then select the Plus (Add) button to add the Deduction. Repeat the above steps until all Deductions are added.
STEP 3 - Set up or change Payment Method for a Payee.
STEP 3 - Set up or change Payment Method for a Payee.
Navigate to Payment Method.
To change existing disbursments,
To change existing disbursments,
Update the Amount as required for any existing Bank Accounts.
🎯 If $ was chosen instead of %, or % was chosen instead of $, the Bank Account must be removed and the Master File saved to update this setting.
Update the BSB, Account Number, Account Name and Reference as required for any existing Bank Accounts.
To remove existing disbursements,
To remove existing disbursements,
Select the Minus (Delete) button ot remove the Bank Account from the Table.
If the Bank Account has been saved previously, the Delete Icon will update to Undo, allowing you to reverse the changes. The account will not be deleted until Save is selected.
To add disbursement details,
To add disbursement details,
Select the Percent Icon and enter the relevant amount. If the bank account does not have a defined amount, select the Balance Icon.
Enter the Payees BSB, Account Number, Account Name & Reference.
Then select add to add the account. Repeat the above steps until all accounts are added.
Select Save to save your changes.
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