Setting up your company's bank account

Overview

Using Talexio, you can pay your employees using an automatically generated payment file which the payroll officer will send to the bank. This file includes instructions on each payment, including the beneficiary (employee) details and also the amount to pay them. For information on how to generate a payment file, click here.

Before generating a payment file, though, you will need to set up your company's bank account. 

Contents

1. Permissions.
2. How to set up.
   

Permissions

To set up your company's bank account, you will need the 'Manage client settings' permission set on global.

How to set up

Go to the Settings section, click on the Payroll tab, and click on Manage bank accounts: 

Next, you need to click on +New bank account:

This will bring up the below dialog box:

Here, you need to select the bank and input any details (such as IBAN, BIC, unique client ID) that are required by the relevant bank. Different banks have different rules. 

You can also set the bank as default (in case where you have multiple bank accounts). 

Then click create.

Thus, your company's bank account is set up. To add more, simply click +New bank account again. 

Once this is done, you may go to the Payroll section, calculate the payroll for a given period(s) and generate the payment file to be sent to the bank. You may wish to create a test payment file. For more information, click here. 

Since this file is read by an automated system on the bank's end, each bank has its own set of rules which are programmed into Talexio which include how the file should be shaped and what information it should contain. To learn more about these rules, click here.