Payroll: Set Up Banks

Banks keep track of pay that has been earned but not paid directly to crew members. When you configure a payroll rule that will pay your crew a portion of their earnings and bank the rest, you must define a specific bank for that rule.

To set up a bank

1. Go to the Setup > Payroll > Banks tab and click New Bank.
2. In the Name field, enter a name for the bank.
3. (Optional) Use the Min field to enter a minimum for the bank. Consider whether you want the crew to go negative (into overdraft) in this bank:
   • If the answer is no, set the minimum to 0.
   • If the answer is yes, don't set a minimum and the bank will be allowed to go infinitely negative.
   • If the answer is yes, but you only want the bank to go negative to a specific limit, enter that limit as a negative number then use the Min Mode list to define whether that number should be an amount or a quantity.

   Example 1 If your crew can go negative in their Accumulated Time Off bank by up to 14 days worth of pay, enter -14 in the Min field and select Quantity from the Min Mode list.

   Example 2 If your crew can go negative in their Accumulated Time Off bank by up to $3000, enter -3000 in the Min field and select Amount from the Min Mode list.

4. (Optional) Use the Max field to enter a maximum for your bank. Follow the same logic we outlined above for the Min field.
5. In step 3, if you allowed crew members to go negative in this bank, you must use the Overdraft Earning Code field to enter the earning code they should be paid out at. This code is necessary for the withdrawals to be calculated.
6. Click Save Changes.