How to Set Up Direct Deposit in Sage 50?

The direct deposit is a method applied by employers to pay their employees. Here, they deposit the paychecks directly into the bank accounts of their employees.  By using the Sage 50 direct deposit feature, they can save the money and time spent in printing these paper checks. It saves time for the employees as well because they do not need to visit the banks to encase the paychecks.

If you are yet to use this feature, you are at the right place. Go through this blog. We will tell you how to do it.

Read More: How to set up employee user access in Sage 50 Quantum Accounting?

METHOD to set up direct deposit in Sage 50?

Please follow the below-mentioned steps:

authorize sage 50 direct deposit
Authorize Direct Deposit

Step 1: Contact Sage

  • Give a call to the Sage 50
  • Sign up for Sage 50 Direct Deposit.
  • On signing up, you will be provided an authorization code
  • Open Sage 50
  • Go to System Navigation
  • Click on Edit Company Information Now
  • Click on the arrow next to the Direct Deposit tab
  • Now enter the authorization code
  • Click OK

Step 2: Set up your banking information

  • Click on the arrow next to Direct Deposit
  • Enter your banking information in the relevant fields
  • Select your Fee Expense Account and Cash Account where you want to post your transactions and fees

Step 3: Set up your employee information

  • Navigate to Employee & Payroll
  • Click on Employees
  • Click on View & Employees
  • Click on the name of the employee for which you want to enter the relevant banking information
  • Click on the arrow next to Direct Deposit
  • Enter the banking information of the employee in the space provided

Step 4: Sync and approve the pre-notes

In this step, you need to sync all the bank information (pre-notes) related to your company as well as that of the employees.

  • Navigate to Services
  • Click on WebSync Wizard
  • You will be asked to enter your authorization code for Sage 50 Direct Deposit
  • After you enter the code, click Next
  • click Finish
  • Now you may need to wait for some time till the pre-note approval is conveyed.
  • To check your approval status, open WebSync Wizard again
  • Navigate to Maintain Employees & Sales Reps
  • Click on the Direct Deposit tab
  • Go to the Pre-Note column and check if the status is shown as Approved
  • Verify if the checkbox named Employee Uses Direct Deposit is enabled or not.

Step 5: Sync and approve the pre-notes

In this step, you can sync the first direct deposit payroll. The check date will be the date of deposit. 

  • If you want to pay one/multiple direct deposit employee, go to Tasks, and then go to Payroll Entry
  • Click Save
  •  Post the checks
  • To process the direct deposit transactions, open the WebSync Wizard
  • Enter your login credentials
  • click Finish

We hope the sequential steps mentioned above would help you. If you are still facing any difficulties in carrying out the above-mentioned steps, you may speak to our experts, anytime you want.

Read More: How to Fix Sage 50 Not Calculating Vacation Pay Issue?

Frequently Asked Questions (FAQs)

Q: How can I set up direct deposit for online banking?

Please follow the below-mentioned steps-

  • Log in to online Banking.
  • Click on your account.
  • From the navigation menu on the right, select “View and Print Payroll Direct Deposit”.
  • From the drop down box, select the account to which you want to deposit your payroll.
  • Click on “View and Print”. The customized form will appear on your screen.

Q: How can I reverse my deposit slip in Sage 50?

Please follow the below-mentioned steps-

  • Click on the Receipts icon from the HOME window.
  • Go to the Receipt menu
  • Select Adjust Receipt.
  • Enter your search criteria
  • Select OK.
  • Go to the Adjust a Receipt window
  • Select the receipt you wish to edit
  • Click Select.
  • Click on the Receipt menu,
  • Now click on Reverse Receipt.
  • Click Yes on the Confirmation window
  • Recreate and post the receipt
  • Repeat this process for all the receipts you wish to include in the deposit slip you will recreate later
  • Redo the Deposit Slip.

Q: What are Sage 50 Standard Fee Schedules?

Sage Direct Deposit Setup Fee: $75

Base Fee: $5 per payroll (Not including the Direct Deposit Transaction price)

Direct Deposit Transactions: Weekly Payday:

  • 1-15 Deposits: $1.30 Per Deposit
  • 16-50 Deposits: $0.90 Per Deposit
  • 51+ Deposits: $0.70 Per Deposit

Direct Deposit Transactions: Other Frequency          

  • 1-15 Deposits: $1.60 Per Deposit
  • 16-50 Deposits: $1.10 Per Deposit
  • 51+ Deposits: $0.85 Per Deposit

Premium/Late Processing Fee: 10 Each Occurrence

(Fee is applicable if payroll file is submitted at 5 p.m. ET or later on required submission day.)

Prenote Transactions: Weekly Payday 

  • 1-15 Prenotes: $1.30 Per Prenote
  • 16-50 Prenotes: $0.90 Per Prenote
  • 51+ Prenotes: $0.70 Per Prenote

Prenote Transactions: Other Frequency

  • 1-15 Prenotes: $1.60 Per Prenote
  • 16-50 Prenotes: $1.10 Per Prenote
  • 51+ Prenotes: $0.85 Per Prenote

Return Item/Notification of Change: $10 Each Item

Direct Deposit Reversal: $35 Each Reversal

Employer Funding NSF: $150 Per Occurrence

Wire Transfer/Reverse Wire Transfer: $35/$50 Each Transfer

Funding Bank Change Fee: $25 Per Occurrence

Company Name Change: $25 Per Occurrence

Fee Deleted Payroll Fee: $35 Per Occurrence

“Per Deposit” and “Per Prenote” are per each distribution into each account type. This affects only employees with multiple deposits per paycheck.

Note: All fees are subject to change.