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How can admin create a bank transfer?

Product Content Team
  • Updated

Bank transfer, is now a common method used by companies to make payments or transfer funds to other entities, such as employees, suppliers, vendors, or other business partners. 

To create a bank transfer, the admin must perform the following actions:

  1. From the greytHR Admin portal, navigate to Payroll > Payout > Bank Transfer.
  2. On the Bank Transfer page, click the Bank Transfers tab. A list of bank transfers to your employees appears. The page also displays the number of employees for whom bank transfer is still pending.
  3. Click Create New Bank Transfer. A form appears.
  4. Under Step 1: Transfer Type, select the By Employer Bank/By Employee Bank option as per your requirements.
    Note: The By Employer Bank transfer option includes the employees having bank accounts in different bank accounts. The By Employee Bank option transfer option includes the employees having bank accounts in same bank.
  5. From the Bank Template dropdown list, select the required option. 
  6. Click Next. Step 2: Select Employees form opens. A list of employees appears.
  7. Using the Employee Filter dropdown list, customize the list of employees for whom bank transfers must be done.
    Note: You can add a new filter using the + icon.
  8. Click Next. Step 3: Options form opens. The details such as Entity Name, Ach User Name, Customer ID, and Entity bank Acc no auto-populate.
  9. In the File Name Start text box, enter the file name.
  10. In the File Extension text box, enter the format of the file. 
  11. Click Finish. A preview of the bank transfer statement appears.
    Note:

    • To download the bank transfer statement, click Download File.

    • You can also download, export, and delete a bank transfer statement using the respective icons available next to the Status column on the Bank Transfer page.

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Related Links:

❓FAQs- To read more FAQs about bank transfer, click here.

📃Documentation- To learn more about bank transfer, click here.

▶Video- To watch the video on bank transfer, click here.

📢Product Update- To read about the product update, click here.

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