Telpay for Business has the ability to pay employee expenses or employee bonuses as a funds transfer. Using the funds transfer payment option allows you to send money (as a bill payment) to any individual. In order to send a funds transfer, banking information is required and the payment is sent electronically.
The funding timeline for a funds transfer (such as an employee expense or employee bonus) is the same as any other payable. You can view our payables funding options here.
On the main menu of the Telpay for Business software, select 'Add New Billers' under the 'Manage Billers' tab.
Chose 'Individual or Funds transfer' as your payments type.
Enter in the required information for the payments such as the individual’s full name and identifier and click 'Add and Pay'.
Enter employee email address and banking information.
Select payment date.
Enter payment amount and tab over to confirm GST and net expense. Then select 'Accept'.
Have signing officers approve payments by entering their electronic PIN into the software or by approving with remote authorization.
You will be presented with the Funding screen. Choose your preferred funding option, and then select ‘Send Payments’.
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.
You will be required to back up your system. Choose a network drive or an external drive. Select “Backup”.