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


Before configuring Drake Accounting for direct deposit, you must first set up an account with Kotapay. 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.

You can set up your firm as a vendor for each client and enable direct deposit payments through Kotapay. This is a fast and easy way for your clients to pay you for your services by direct deposit. 

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
    • Set your Firm up as a Vendor.

      See "How to Set Up a Vendor" for more information. 
    • Check the box for "Do NOT generate a 1099"
    • Enter all required information
    • Click Save.
  2. Go to Payables > Invoices.
    • Select Vendor you created in Step 1.
    • Click New.
    • Complete required and applicable information on the Invoice Info tab.
    • Click Save.
  3. Go to Payables > Payments. 
    • Select Vendor and the invoice created in Step 2. 
    • Click New

      Under Payment Information, select CHECK and enter payment amount. 
    • 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
    • Select the check you wish to transmit
      Verify the information is correct!
    • Click Transmit. 
    • A web browser will open to finalize the process.
       

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  Visit our Drake Accounting website

  Visit the Drake Software website