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2018-01-16 19:51:51 Staff and Employees English Outside of direct debit arrangements, BPAY is the most commonly used method of paying bills. What if you could further simplify the payment... https://dprotksf3n5y8.cloudfront.net/wp-content/uploads/2018/01/16195826/bpay_720_480.jpg BPAY payments BPAY Payments Now Enabled in the Pay Run | QuickBooks Australia

BPAY payments are now enabled in the pay run

1 min read

BPAY is one of the most popular bill payment services in Australia. But what if you could further simplify the payment process by removing the transaction altogether? We’ve outlined the steps to getting this feature set up in KeyPay. Follow this guide and rest assured that your bills are paid as part of the pay run process!

 

How does this work?

 
Step 1: The employer sets up their BPAY file according to their bank’s requirements within the “Payment Files” settings (previously known as “ABA Settings”). Currently, only the following banks are supported: Commonwealth Bank, Westpac, National Australia Bank and ANZ.

Step 2: Employees can add BPAY accounts to their bank account set up. Alternatively, full access users can do this on the employee’s behalf.

Step 3: Once the pay run is finalised, generate the BPAY file to then import via your corporate banking.

 

Deductions can be paid using a BPAY account

 
When setting up a recurring deduction or processing a deduction within a pay run, it is also possible to choose a BPAY account as the payment type for the deduction.

 

Pay slips

 
BPAY transactions will be clearly identified in the employee’s pay slip under “Bank Payments”:

Why is this feature amazing?

 
As stated above, BPAY is widely used by all. This feature is significantly beneficial to employees that:

  • want to pay their bills via BPAY;
  • want to pay off their credit cards via BPAY; and/or
  • have salary sacrifice arrangements (such as novated leases) that they want to pay via BPAY.

Your employees will love you for simplifying the annoying process of paying bills!

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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