There are no checks to sign with direct deposit. Save time after payday Employees with direct deposit never need replacements for lost or damaged checks. That means greater security for them and fewer problems for management. Here's how it works First, your employees authorize the transfer of funds to their personal accounts. Every pay period the appropriate wages are automatically deposited into their individual checking or savings accounts.
Employees receive a pay voucher showing their account number and the amount deposited.
Employers receive a direct deposit report with each payroll, detailing transactions for the pay period. Traditionally, pay is deposited in checking or savings accounts. Our Paychex Access MasterMoney TM Card accounts provide a third alternative. An account provides employees with a quick, safe, and convenient way to get their pay, while adding the benefits of a purchase-debit card. A. Direct deposit involves communication between banks.