Payroll Direct Deposit

SimplePay provides payroll direct deposit feature in which you can pay your employees through electronic transfer of pay period salary directly to their bank account. SimplePay also provides electronic funds transfer to CRA and Revenue Quebec for monthly payroll and other remittances. Electronic funds transfer is managed through the Royal Bank of Canada.

Direct Deposit Time Line

It takes 4 days to process Direct Deposit. Cut off time is noon daily. For example if payroll is submitted Monday before 12 noon, employees will see payment in their account Friday morning.

 

Multiple Bank Accounts

SimplePay provides electronic funds transfer to multiple bank accounts of an employee and Vendor Payments. Employee can select from the followings options provided for their multiple accounts 

                               

• No Split in multiple accounts.                               
• Split by percentage in multiple accounts.                             
• Split by fixed amount in their multiple accounts.

                                              

 

No Split in multiple accounts

Fixed amount entered will be deposited in the first account.

Split by percentage in multiple accounts

Split by percentage entered will be deposited in their first Account and remaining in second account.

Split by fixed amount in their multiple accounts

Fixed amount entered will be deposited in their first Account and remaining in second account.