Feature Spotlight - Automating salary payments through the YES Bank integration
Continuous product innovation to simplify the entire payroll process has always been one of our fundamental goals. Today we're giving you another way to automate your entire salary payment process, by partnering with YES Bank. This goes a long way in strengthening our connected banking network and helping business owners complete their transactions from inside our product.
In this forum post, we will see how to enable the YES Bank integration, modify the payment mode of the employees to Direct Deposit, and pay your employees easily.
To enable this integration inside Zoho Payroll:
First, ensure that you have all the information listed below
- Customer ID of your corporate YES Bank account
- First half of the password
- Second half of the password
- Account number of the corporate bank account
Go to Settings > Direct Deposit and click the Setup Now button in the YES Bank section.
Enter the account information listed above in the window that appears, and create a six-digit secret PIN number that will help initiate the employee salary payments. Click Save and your integration is now set up.
Before initiating payments, ensure that for each employee whose salary is to be dispersed via direct deposit, the mode of payment is set as Direct Deposit. You can achieve this in two ways:
1. Go to the Employee module and click on the respective employee name. Now you can select the Direct Deposit payment mode in the Payment info section of the window.
2. To change the payment information in bulk, you can edit the payment info for all the employees in the import file and upload the file. The changes will be updated automatically.
Now that the integration is set up and the employee payment mode is updated, the salary payment can be done in just a few steps.
Once the monthly pay run is approved:
- Click the Initiate Payment button and choose Yes Bank.
- Enter the secret PIN and click the Make Payment button.
The payment will be initiated automatically, and you will receive a notification and email once the payment is complete. The payment status automatically switches from Payment Due to Paid.
As you see here, the employee payments can be initiated from within Zoho Payroll without logging in to the bank portal. That's how seamless the connected banking experience becomes with this integration. Check out our help docs for the integration to know the detailed steps.
So what do you think about this integration? Let us know in the comments below.