This article is for Drake Accounting 2019. To view this article for Drake Accounting 2018, click here.
In a nutshellshort, these are the steps to using the Direct Deposit feature in Drake Accounting:
Before configuring Drake Accounting® for direct deposit, you must first set up an account with Kotapay.
Contact Kotapay at (866) 431-9926 for information and pricing, or visit their website at www.kotapay.com
Once you've sent your request for an account to Kotapay, they will send a packet of information to you regarding your account.
- Go to Firm > Direct Deposit Setup.
- Use Using the drop lists to select letters and numbers or carefully type the letters and numbers to match the Authentication Card (or "Bingo Card") received from Kotapay.
Either tab from one field to the next or use your mouse to click in a field.
Kotapay sends new Authentication cards periodically. Enter the new letters and numbers each time you receive a new card.
- Enter the PIN, UserID, and Password of the “Primary” Kotapay account.
- The password must between 8 to 25 characters in length.
- The fields display asterisks.
- Reenter the primary UserID and Password.
- Selecting From the processing window from the Processing Window drop list that , select the option stating you have contracted with Kotapay to use
- 3, 4, or 5 days.
- Go to Employees > Employee Setup.
- The Details link presents an explanation of when Kotapay must have the file based on the contracted processing window in order to avoid increased processing fees.
- Click Save.
- Check Direct Deposit Payroll Checks.
- Select the Account Type the funds are supposed to go to.
- You can choose an amount, or a percentage, to be applied to the Savings Account.
- Enter the employee’s banking routing and account numbers.
- If the checking and savings account have the same routing number, select Use Same Routing Number.
- Click Save once you are finished.
- On Check Print screen, select Direct Deposit to display the direct deposit employees, and select Stubs only to print check stubs.
- Enter the correct Check Date for your Kotapay processing window.
- Click Print to print the check stub for the direct deposit employee.