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
Related Articles
BNZ File Transfer Channel Customers
BNZ’s File Transfer Channel (BNZ FTC) payment method uses a direct connection between iPayroll and BNZ. It has removed the need for a direct debit authority and a Payroll Letter of Credit. You will still have up to 3pm or 4pm on payday to confirm ...iPayroll Maintained Pay Elements
Standard iPayroll Pay Elements - New Zealand At iPayroll we maintain a number of Standard Payments, Deductions and Leave Codes for you. This greatly simplifies the work you have to do to set up and maintain your payroll, as we continually update this ...New Payment Method - ANZ Customers
New Payment Method Coming- ANZ Fileactive Service ANZ will be decommissioning the use of payroll letters of credit (PLOC’s) later this year. Therefore we are creating a new payment method for our ANZ customers which uses ANZ’s Fileactive service. ...New Payment Method - BNZ Customers
BNZ File Transfer Channel BNZ no longer provide payroll letters of credit (PLOC’s) as a result of their move to 7-day payment processing. Therefore, we now have a new payment method with BNZ customers which uses BNZ’s File Transfer Channel function ...Contractors / Directors - Schedular Tax Deductions
Contractor / Director Set Up (WT or Schedular Payments) You make payments to them under a contract and can include certain activities, eg commissions, director fees or labour only contracts in the building industry. GST can be payable, check if your ...