Salary Transfer Statement is a statement that is sent to a bank authorizing them to transfer salaries to your employee bank accounts. A statement is sent to each bank which includes a list of employees with their account numbers and the amount to be transferred.
Step 1: Ensure that all the banks where your employees have accounts, are listed in the bank list
Step 2: Ensure that the Salary Card for each employee is updated with the correct payment mode. If payment mode is bank transfer, specify the bank name and account number
Step 3: Once the salary is processed, you can generate Salary Transfer Statement for each employee bank
If you want to generate Salary Transfer Statement for Employer banks, follow these steps.
Step 4: Ensure that Employer Bank Accounts are listed under ‘Employer’s Banks’
Step 5: Ensure that the field ‘Credited From’ is updated in the Salary Card
Step 6: Once the salary is processed, you can generate Salary Transfer Statement for each employer bank
Lenvica HRMS also supports electronic salary transfer systems like WPS. We generate electronic files according to the format prescribed by each bank, and you can directly upload them to the banks.
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