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Direct Deposit for Payroll
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A Better Way To Pay!
Advantages of Using Direct Deposit
- Payroll is a simple, convenient, secure and reliable service that simplifies the payroll process.
- Reduces costs and adds a valued employee benefit.
- Access directly from your People's Choice Accounting system. Simply click on the Direct Deposit icon and you will be connected to our site via your internet connection.
- Provides complete earnings statements every payday showing gross pay, deductions, net pay and other information at no cost to the employee.
- Net check Is posted to the employee's bank account faster than a paper check, reducing the possibility of employee overdrafts.
- Much more secure and confidential than receiving a check.
- Delivers the employee's check to their bank whether they are absent or remote.
- Takes advantage of the security and stability of the Federal Reserve Banking system.
- Includes an audit trail for verification by your administrator to review for accuracy.
- Employees do not need to change financial institutions to utilize Direct Deposit.
Why Direct Deposit?
Saves Money...
Utilizing Direct Deposit will cut their payroll administration, production, and distribution costs by as much as 50% depending on the level of participation. … to say nothing about employee productivity savings!
- Reduces check production and storage costs.
- No special handling of checks for absent or remote employees.
- Eliminates cost of reissuing lost or stolen checks and associated stop payment fees.
Saves Time & Increases Employee Productivity...
- Eliminates time printing and verifying checks, getting them signed and distributed, and time spent reissuing lost or stolen checks.
- Account reconciliation is much easier than with check payments. When your monthly bank statement arrives, your Direct Deposit payroll debit is listed as one entry.
- Employees spend less time during breaks traveling to their financial institution to deposit checks.
- Research shows productivity gains average between 16 and 30 hours per year per employee.
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