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- Paying directly into an employee's bank account ensures fast, secure and accurate payments
- MYOB Essentials creates a bank file at the end of a pay run for you to upload to your bank for processing
- All Australian banks are supported, or ASB, ANZ, BNZ or Westpac in New Zealand - ask your bank about setting up internet banking
- There are some one-off setup tasks to complete in MYOB Essentials before you can pay employees electronically
OK, let's step you through it:
To set up electronic payments
Before you can pay your employees electronically, you need to:
- enable the bank files feature in MYOB Essentials
- enter your business's bank account details, and
- enter your employees' bank account details.
Enable the bank files feature
In MYOB Essentials, click your business name and choose Payroll settings.
- Select your MYOB Essentials Bank account for paying wages.
Select the option Pay employees using bank files option.
Enter your business's bank details
Enter the BSB and Account Number for the account where the wages will be paid from. If unsure about any of these details, check with your bank.
Some banks may require a Direct Entry/APCA ID and a Self balancing file. Check with your bank if these are required for your account. Also, if you haven't already, you can also set up your Pay Superannuation settings.
The Banking section will now be available on the Employee details tab for each employee.
Enter your employees' bank account details
- From the Payroll menu, choose Employees.
Click the employee's name to open their details.
- On the Employee details tab:
- Choose whether the employee's pay is being paid into one account or split between two accounts.
Enter the bank and account details. If you only see the Account description field, make sure you've recorded your business's bank details as described above.
Employee bank account details previously entered into the Account description field can now be entered into the relevant bank, branch and account number fields.
- (Optional) Add a Payee reference (statement text) to appear on the employee's bank statement for wage payments.
- Click Save.
- Repeat steps 6-8 for each employee being paid electronically.
You're now ready to pay your employees electronically.
To pay your employees using a bank file
Once you're set up (see above), you can do a pay run, download the bank file and upload it to your bank through their internet banking site. If you need to add or update employee bank details, do this before processing the pay run. This ensures the bank file generated during the pay run contains up to date banking details.
- Complete a pay run.
In the final step of the pay run, click the Download bank file button to download your bank file (also known as an ABA file). Save it to your computer in an easy-to-find location.
Download bank file button greyed out? This means you haven't completed entering, or you didn't save, the employee's bank details. See To set up electronic payments, above.
- Upload the bank file to your internet banking site.
Uploading the bank file to your bank
Most banks provide an online banking portal through which you can upload bank files. Check the help in your online banking software to learn more, or check with your bank if you need more help. You can also search Google for your bank's instructions, e.g. search for "upload aba file ANZ" or "upload bank file westpac", etc.
And you're done! Your employees will be paid from your account after your bank's clearance period.
To download a bank file from a past pay run
If needed, you can download bank files from past pay runs.
Bank files were current at the time they were created and can't be changed. So any changes or additions to an employee's bank details since a file was created won't be updated in bank files from past pay runs.
- In the Payroll menu, click the Past pay runs link. The Past pay runs page appears with a list of pay runs.
Click the Download button for the applicable pay run to download your bank file. Save it to your computer in an easy-to-find location.
Upload the bank file to your banking portal.
How do I fix a mistake and recreate the bank file?
If something in an electronic payment bank file is wrong, you'll need to:
- Delete the pay run the bank file was created for. You'll need to delete all employee pays contained in the pay run. For details, see Changing or deleting a pay.
- Fix whatever needs fixing (maybe an employee's bank details need updating or other payroll details have changed). Learn more about entering an employee's pay details.
- Process the pay run again and download the updated bank file. See above for more details.