1. The first time you set up your payroll for direct deposit, you must be logged into QuickBooks as the Administrator and as a single user. This is only required the first time you import your payroll into the Telpay for Business software.
2.You will need to create a new bank account called “Telpay Clearing”. This is the new account you will be making your cheques payable to.
3. In QuickBooks, go into your scheduled payroll run and make cheques payable to your “Telpay Clearing” account. Specify which employees you want to pay and indicate the pay period end and cheque date. Complete your payroll as you normally would and when finished select 'Continue'.
4. Now, click the 'Assign Cheque Numbers to Handwritten Cheques' radio button and give it a reference to direct deposit, such as “DD 001”. Select 'Create Pay cheques'.
5. At this point you can print or email pay stubs, then click 'Close'. You are now ready to import your payroll into Telpay for Business.
6. Launch your Telpay for Business software. Log in and select 'Payroll Files' under 'Importing or Creating'.
7. Click on the 'Options' button; ensure that you have the appropriate version of QuickBooks selected.
8. Once the correct version is selected, click 'OK'.
9. Click on the 'Auto Import' button in the middle of the File Processing screen
10. Select the cheque date of the payroll you crated in QuickBooks and select 'OK'.
11. An application certificate will appear from QuickBooks. Only a QuickBooks administrator can approve this certificate. You only need to do this the first time you import into your Telpay for Business software. On the “Application Certificate”, choose the 3rd option down. Click 'Yes', whenever this QuickBooks company file is open”. select 'Continue'.
12. Select 'Done'.
13. You will now need to enter the banking information for your employees. You will only need to do this the first time as Telpay for Business will remember the banking information going forward.
14. Enter the date of deposits to the accounts and select 'Next'.
15. You have the option to remit your payroll deductions along with your payroll or use the bill pay functionality of Telpay for Business. Please refer to our government remittance/source deduction processing instructions
or contact our Customer Service Team for information. Select 'Submit for Transmission'.
16. A payroll summary will be printed for your records and you will be brought to the confirmation screen. Here you simply need to confirm the payroll file contents and select 'Next'.
17. Enter your approval code or email your signing officers for approval. Once done, click on 'Select Payment Option.
Payroll funding times options:
- Send the funds to Telpay from your financial institution’s online bill payment service, or;
- Instruct Telpay to debit your bank account*
*Advanced Debits funding option is only available to existing Telpay for Business desktop users.
19. Once your system has successfully connected to Telpay, you will receive a Transmission Report which you can print or continue. This report will be stored in the history of your Telpay for Business software.
20. You will then be required to back up your system. Select a network drive or an external drive. Then click 'Backup'.
21. If you are using a Clearing Bank Account, a journal entry will be created that you can import back into QuickBooks which will debit your Clearing Account to zero it out and credit your operating bank account for the lump sum amount of the net deposits.
Prior to importing your journal entry for the first time, you will need to set up three new vendors in QuickBooks.
We suggest you copy and paste the names listed here to ensure accuracy.
- Bank (Telpay WTHDRWL)
- Payables Import File
- 200 Payroll Deposit
To import the journal entry, in QuickBooks, go to:
- IIF Files
- Browse to the drive where your Telpay resides
- Select 'Billpay'
- Select 'Telpay' and select your access number folder
- Select “TGLEXP”
- Select 'Quick.IIF' File
- If you check your "Chart of Accounts” you will notice that your Clearing Account is now at zero