At Fingercheck, we want to make life easier for you, so you can focus on growing your business. One of our latest initiatives offers end-to-end visibility and transparency for our payroll customers.
Our Payroll by Fingercheck funding dashboard delivers transparency while helping to prevent delays in the payroll process. Using it provides you with near real-time updates on the status of ACH, wire and return transactions. It allows Fingercheck customers to easily track their payroll from start to finish, ensuring their employees are paid on time and without delays.
If you aren’t already using our payroll feature, schedule a call so you can learn about it and see why our customers ranked us so highly in the G2 user awards.
How to see your payroll transactions
We know you want to see where your money is in the process. The Payroll Funding Dashboard delivers that transparency. Here’s how it works:
- Log in to Fingercheck as an administrator.
- Select the Payroll tab.
- Look at the Previous Payroll section. If the payroll run you want to view is not shown, select it from the drop-down list on the right.
- Click Payroll Summary. The payroll summary appears.
- Click the View Processes icon in the top-right corner to open a summary of the transactions for the run.
- Hover over each icon for details.
4 icons to know
The icons include funding method, funding status, processed and transaction details.Â
The Funding Method displays the method in a tooltip.
The methods are:
- Draft 2 Day Window
- Draft 5 Day Window
- Draft Next Day
- Draft Same Day
- Wire Drawdown
- Wire
Funding status displays the status in a tooltip. The statuses are:
- Draft: If you are set up to use a draft method, the system moves the status automatically to funded upon the check date (unless Fingercheck is notified of a return or stop payment).
- Funded: The amount has been funded.
- Awaiting Wire: If you are set up to use a Wire method, the status moves to Awaiting Wire and then to Funded when Fingercheck is notified that the wire was received.
- Redraft
- Returned Due to NSF(non-sufficient funds): The account doesn’t have enough funds, so Fingercheck could not draft the account.
- Returned Due to Other: The account could not authorize the transaction, so the Automated Clearing House (ACH) filters on the account were locked.
The Processed icon indicates that the payroll has been processed.
If the Transaction Details icon appears, click it to view the transaction details for the payroll run. There are three possible transaction statuses for employee ACH transactions:Â
- Submitted: No issues were found, and the funds have been sent to the employee’s bank account.
- Returned: The funds could not be deposited into the employee’s bank account. Reasons for this might be that the account was closed or the account number or routing number was incorrect.
- Correction: The funds could be deposited to the employee’s bank account, but a correction to the employee’s direct deposit information is needed before the next payroll. (Most commonly, the account or routing number needs an update.)
If you click the icon on the right side of the transaction, you can see details about the transaction.
Why you need payroll transparency
Visibility into your funds distribution helps if you have a returned direct deposit. If this is the case, you might need to void a check and create a manual check. Similarly, you might learn about a correction that must be made to an employee’s bank account information, and you can update the account prior to your next payroll.
If corrections are required, you will receive an email, and a task will appear on your Fingercheck Dashboard. Our payroll funding dashboard makes running payroll a smoother, faster and more efficient process.
Automate your payroll process with Fingercheck
Payroll by Fingercheck automates the payroll process to eliminate errors and ensure compliance with federal, state and municipal tax codes. Fingercheck automatically backs up your data so there is no risk of data loss.
Your payroll information is safe and available with point-and-click ease when you need it. And in a pinch, we even offer payroll financing for those times when receipts are late, but payday is here.
Schedule a chat today to learn how Fingercheck can help you do business better.