We are always looking for ways to improve efficiency within our business so we thought we would share with you our hot tip for automated payroll payments to your employees using Xero and Internet Banking.
How do I make automatic employee payments from Xero using my Internet Banking? – To process your employee’s payments via Internet Banking you first need to download an ABA file in Xero (consult Xero help menu for details on how to complete this). The file will contain your pay run details, employee bank account details, and amounts owing to each employee. You will need to save the ABA file to your desktop so that it can be selected and uploaded into your internet banking site. Once logged into your Internet Banking, if you cannot see where to upload a file in your “Pay Anyone” area of Internet banking, contact your bank to ask how enable this function. Once the file is uploaded all payments are automated.
How do I reconcile my employee payroll payments if I have processed payment using an ABA file? – If you have processed the Payroll Draft Bill and used the ABA file when paying employees through Internet Banking, Xero will automatically allocate the two. This makes reconciling wages very simple.