iPayroll Payment Methods

Payment Methods

As part of your setup you will need to decide how you will manage the payments in iPayroll.

For more information here ANZ payment method

For more information here BNZ payment method 

Setup > Organisation > Details > Payment Details > Payment Method

Same Day Direct Debit by iPayroll

Bank account is debited on the same payment date and confirmation times as stated on Payroll > Open.

All payments including Take Home (Nett) pay for employees handled by iPayroll.

Criteria

Payroll with a pay period value under $20,000 - Letter of Credit (LOC) to be completed and held on file.

Payroll with a pay period value over $20,000 - Letter of Credit (LOC) submitted to your bank for approval (terms and conditions vary).

Two Day Direct Debit by iPayroll

Bank account is debited 2 days prior to the payment date and confirmation times as stated on Payroll > Open 

All payments including Take Home (Nett) pay for employees handled by iPayroll.

Criteria

Payroll must be confirmed 2 days prior to payment date

No Letter of Credit (LOC) required

Nett Payments - Managed by Yourself

Bank account is debited for Tax and fees only on the same payment date and confirmation times as stated on Payroll > Open.

Bank file for Take Home (Nett) pay for employees available once payroll is confirmed. Uploaded and managed by yourself.

Criteria

Procedures must be in place for upload and approval of the bank file by you.

No Letter of Credit (LOC) required 

Nett Payments - File Sent on Your Behalf (ANZ & BNZ customers only)

Bank account is debited on the same payment date and confirmation times as stated on Payroll > Open.

All payments including Take Home (Nett) pay for employees handled by ANZ or BNZ 

Criteria

ANZ Fileactive form must have been received and validated by ANZ.

BNZ FTC form must have been received and validated by BNZ. 

No Letter of Credit (LOC) required 

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