How To Use Bank Account Split

We’ve implemented a new feature that allows you to send an employee’s salary to different bank accounts. 

Here’s a step-by-step guide to using this feature: 

Step 1: Enable The Feature

You must first go to Administration Module -> Features Menu and enable the feature. This feature is disabled by default.

Primary & Secondary Accounts

We’ve introduced the concept of Primary & Secondary Bank Accounts. This allows you to send part of an employee’s salary into the Primary account, and the balance into his/her Secondary account.

Step 2: Specify the Split On Primary Account

On the bank account form, you would now see an Income Split option. This will allow you to choose how you want the income on this bank account to be split. 

1. Fixed Value. Allows you to send a fixed amount of the employee’s salary to this account. 
2. Percentage. Allows you to send a percentage of this employee’s salary to this account. 
3. Balance. You can send whatever remains after the amount that goes to the other bank account.

Step 3: Setup the Secondary Account

Once you’ve added the primary account, go ahead and now add your secondary account, setting “Balance” as the option.

Once finished, you should now have 2 active bank accounts for the employee.

Step 4: Run Payroll

After configuring the income split for this employee’s bank accounts, you can just go ahead and run your payrolls as per norm. TechlifyHR would take care of specifying which account the funds should be split to. Here is a sample RBL file where you’ll notice the Avril has monies going to 2 bank accounts.