Welcome to the world of Electronic Funds Transfer (EFT). PC-REACH for Windows is a tool that can help you begin processing your financial transactions electronically. The most common uses are transactions that are done on a routine basis such as payroll, monthly installment payments, rental payments, membership dues, contributions, etc. The benefits are numerous for both credit and debit applications. For company payroll, a savings will be realized in check printing cost (time and paper), distribution, bank reconciliation charges, and employee productivity on payday. Any application for debits will give companies cash flow control never experienced before! Public acceptance of direct deposit payroll and automatic bill payments is prompting businesses to search for Financial Institutions capable of Originating (processing) Electronic Payments.
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The payroll program is run at a specific point in time, not only to calculate an employee’s basic remuneration but also any special payments, overtime payments or bonuses that must be effected for the period in question. Prerequisites before you start this process, you have to specify for which payroll area(s) payroll should be run. You have the following options: · From the SAP Easy Access screen, choose Human Resources ® Payroll ® ® Settings ® Set Payroll Area. · When Releasing the Payroll Run [Page 16] specify for which payroll area the payroll should be run.
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