Staff Savings Accounts
Some of our staff would like money taken out of their weekly pay and placed into a savings account and then when they are short of cash one week they have funds sitting in this account that they can withdraw out.
I thought of maybe setting this up under the Deductions tab in the payroll categories and putting this against a liability account but the balance of their savings account doesn't transfer over to the following financial year, therefore giving them false amounts in their savings accounts on their pay slip but the amount in the liability account is correct.
Is there another way of setting this up, so that the exact amount in their savings accounts appear on their pay slips?
Hi V_Oliver
Sorry to see that no one has replied to you yet.One approach, is your employee could set up a 2nd bank account, then you could do a split pay, and pay a certain amount to one bank account and the remainder to another bank account.
To set this up, go to; Card File > Cards List > Payment Details > Payment Method: Electronic > Enter bank details for both bank accounts.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
