In Keka, setting up payment information for an employee is a simple process that allows flexibility in choosing how payments are made. Here's a step-by-step guide to help you add or update payment information.
1. Navigate to the Payment Information Section
From the employee’s Finance tab, scroll down to the Payment Information section. If no payment information has been set up yet, you will see an option to Setup Now. Click on Setup Now to begin the process.
2. Choose the Payment Method
The first step is to decide how the employee will be paid. You will be presented with two options:
- Direct Deposit: The employee’s paycheck will be deposited directly into their bank account.
- Cash or Paper Check: Payment will be made either in cash or by issuing a paper check.
Once you select the payment method, you’ll need to proceed with further details depending on the option chosen.
3. Direct Deposit Setup
If you select Direct Deposit, you will be asked to authorize electronic deposits. Below the payment method options, you will see a checkbox to Authorize Check to electronically deposit paychecks into your bank account. Check this box and click Continue to move forward with the direct deposit setup.
4. Verify Bank Details
For direct deposit, Keka provides two options to verify your bank account details:
A. Plaid Verification (Recommended):
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- This method allows you to automatically connect and verify your bank account using Plaid, a secure financial data service.
- Plaid ensures end-to-end encryption of your bank information for privacy and security.
- Click on Connect Bank Account, and follow the prompts to securely link your account through Plaid.
To know more about Plaid click here.
If you choose Plaid verification, follow the prompts to securely connect your bank account. Plaid is a secure method that encrypts your bank data end-to-end and ensures privacy.
B. Manual Verification:
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- This method takes longer, as it requires manual entry of the bank details.
- If you opt for manual verification, you will need to provide the following information:
- Bank Name: Select your bank from the dropdown (e.g., Citibank, Bank of America).
- Account Type: Choose the account type, such as Checking or Savings.
- Routing Number: Enter the routing number of your bank.
- Account Number: Enter the bank account number.
- Confirm Account Number: Re-enter the account number for confirmation.
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Once you have completed the steps, you will need to agree to the terms and conditions of the payroll user service in order to authorise debit transactions through Keka's payroll system.
5. Cash or Paper Check
You can choose to receive your payment in cash or via a paper check. Below this option, you will see a checkbox indicating your agreement to receive direct payments from your employer in this manner.
By completing these steps, you ensure that the employee’s payment information is correctly configured in the system, enabling smooth and timely payments.