EFT payroll from two separate bank accounts

Question

Our organization has two payroll bank accounts. I know I can choose one or the other when running payroll. Does this bank account change also change the bank withdrawal EFT account in Beanstream? 
 I want to simplify the process, but am unsure if this will work. TIA

Erzsi_I · Answer

Hi Rockraider , 
 Apologies for the delayed response. Regarding your query on using two separate bank accounts for EFT payroll, I have some information that might help. 
 To change the bank account from which payroll cheques are drawn, you can do the following: 
 
 Go to Setup, Settings, Payroll, Linked Accounts, Income. 
 On your right, select the Principal Bank account. 
 Click OK. 
 
 Please note, this change will affect where the funds are drawn for your payroll. However, for EFT with Beanstream, you might need to check with Beanstream or your payment processor if they can handle multiple bank accounts within the same payroll run, as this function can vary by provider. 
 For further details on how to change the bank account for payroll cheques, you can refer to this article. 
 Additionally, if you are looking to organize payroll expenses by job categories, locations, or employee groups, Sage 50 Canada has options such as Departments, Job Categories, and Expense Groups to help you track these expenses efficiently. For a detailed explanation on setting these up, you can visit this article. 
 Hope this helps you streamline your payroll process. If this helps please mark it as verified :) 
 Warm Regards, Erzsi

Sage 50 Canada

EFT payroll from two separate bank accounts

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