iBrain Direct Deposit
With iBrain Direct Deposit, you get extracted employee paycheck or vendor check data from Sage 50 that can be easily submitted to your bank for direct deposit processing. We have two products, one for employees and one for vendors.
Service providers like Sage and banking institutions charge you per direct deposit transaction. These costs can mount up.
iBrain Direct Deposit extracts payroll data from Sage 50 and reformats the data to the required NACHA specifications. It then creates a file ready to electronically send to the payee's bank. The bank deducts gross payroll or bill pay from your company’s account and deposits the proper amounts directly to the accounts of those payees, wire transferring funds to their respective banks.
A given payee's payment sum may be split among an unlimited number of banks and accounts
Payee deposits may be split by dollar amount or by percentage
Ability to skip a payee desiring to receive a paper check but not withdraw from direct deposit participation
Easily handles voided checks
Not all employees or vendors need to participate in the direct deposit program. In the event a participating payee is for any reason not included in a given payroll, iBrain Direct Deposit automatically skips that payee
Payee information is entered only once unless there are changes or additions
Payroll is performed in Sage50 as usual and, (after printing checks on paper for participating payees), iBrain Direct Deposit extracts necessary pay data of payees participating in direct deposit and reformats that data to meet the NACHA requirements. A transfer file is then created for submission as required by the payee’s bank
Single Company License
Start saving time and saving money! Download now with a no-risk, 30-day refund guarantee.
Single Company License
Start saving time and saving money! Download now with a no-risk, 30-day refund guarantee.
Extra Company Licenses
Must have purchased Single Company License.
Purchased separately costs $220 per hour.
Setup and User Guide for iBrain Direct Deposit