The Advance Bank contains the outstanding balance from a check reversal. It shows the amount of money that is either owed to or from a specific employee as a result of the check reversal. The Advance Bank is auto-generated through the reversal process.
The Advance Bank is used for check reversals. Each Advance Bank entry is created with a Start Date of when the check reversal was processed. This will affect when the deduction is processed on the following check.
Check voids and reissues do not use the Advance Bank, since money is not owed in either of those situations.
Accessing Advance Bank
- From the Main Menu, navigate to Employee > Payroll > Deduction > History tab
- Click on the Advance Bank line in the grid at the top.
- The total balance amount will be listed next to "Balance Amount." This is the total money that is owed to or from the employee the next time the employee receives a paycheck.
- A Current Year Total, a Life Time total, and specific information on each reversed check is listed for reference.
Advance Bank FAQ
Can you set a deduction amount to take a specific amount per check?
This is not possible through the Advance Bank. However, you can manually edit the deduction amount after processing payroll by manually editing the check.
Is the balance of the gross or net amount of the check?
The balance is the net amount of the check that was reversed.
Is the deduction processed pre or post tax?
Any needed deduction is taken out post-tax on the employee's next paycheck.