Some banks issue Banking ID numbers that must be used in place of Federal Tax ID numbers for banking activities such as Direct Deposit. Typically a Banking ID# is 10 digits vs. 9 digits like a Federal Tax ID#. Under "Company Information" (7-1) there is not a separate box to enter a Banking ID# and have it transfer to a Direct Deposit text file. Direct Deposit text files pull from the Federal Tax ID# box. Therefore, the only option for users is to enter a Banking ID# into the Federal Tax ID# box, and then change it back to the real Federal Tax ID# as needed (i.e. when generating system reports). One additional problem with this method is that only 9 of the 10 digits in a Banking ID# carry over to the Direct Deposit text file generated by the system. So, a user must add the final digit to a Direct Deposit text file before submitting it to the bank. Please work to resolve this conflict.
by: Julie P. | over a year ago | Utilities
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Voted for on behalf of Terri Bradley of Pierre Construction Group Inc