Define Employee Bank Details - A summary of activity

Through this activity, you can define different employee banks that are applicable to the organization. Defining employee banks is meaningful when the company intends to pay the employee’s salary through Account transfer. This activity is necessary when employees’ bank account is specified in the “Employee Payment Method” activity.

You can identify the bank through a unique bank code and specify the individual / entity in favor of whom the check is drawn. Typically, the company draws the check in favor of the Manager of Bank Branch to credit the same to its employees.

Defining a bank involves specifying the following.

• A unique bank code to identify the employee bank, and the bank name.

• The name of the branch where the employees account are maintained.

• The location details of the bank such as the address, place and zip code.

• The name of the entity on whose favor the check must be drawn.

You can map each employee bank to one or more organization units of your choice. The employee bank will henceforth be available to these organizational units.

Getting familiar with the pages inside

6 Hyperlinked topics below

What you can do in this activity

Define a bank for employees

Define a bank for employees

You can define a bank for its employees to pay the salary through paychecks.

• Use the "Define Employee Bank" page to define a bank for the employees.