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This article is for Drake Accounting 2018. To view this article for Drake Accounting 2019, click here

Before configuring Drake Accounting® for direct deposit, you must first set up an account with Kotapay (formerly InterceptEFT).

Contact Kotapay at (866) 431-9926 or visit their website at www.kotapay.com for more information or pricing.  

Once this is completed, go to Firm > Direct Deposit Setup and input your Kotapay information.

For more information on this process, read our article about Direct Deposit in Drake Accounting.

Be careful at Step 3!

In order for a direct deposit to be produced, it has to be a CHECK, NOT an electronic payment.

  1. Go to Payables > Vendor Setup
    1. Set your Firm up as a Vendor.
    2. Check the box for "Do NOT generate a 1099"
    3. Enter all required information
    4. Click Save.

  2. Go to Payables > Invoices
    1. Select Vendor you created in Step 1 
    2. Click New
    3. Complete required and applicable information on the Invoice Info tab.
    4. Click Save.

  3. Go to Payables > Payments. 
    1. Select Vendor and the invoice created in Step 2. 
    2. Click New
    3. Under Payment Information, select CHECK and enter payment amount. 
    4. Click Save.

  4. Go to Payables > Check Print to verify your check is there and print if needed.


  5. To transmit the check (direct deposit) from your client’s account to yours, go to Payables > Transmit Direct Deposit
    1. Select the check you wish to transmit
    2. Verify the information is correct!
    3. Click Transmit. 
    4. A web browser will open to finalize the process.


For additional assistance, please click on the links below for related Online Help Articles

Different Types of Vendors in Drake Accounting®

How to Set Up a Vendor

How to Set Up and Print Live Vendor Checks

Payables Module Workflow



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