Zenefits Payroll verifies customer credit and banking information through a third-party vendor called Plaid , an industry leader in secure transaction and authentication services for the financial industry. To guarantee safety and privacy, Zenefits Payroll does not store banking credentials. Instead, these credentials are securely transferred to Plaid using industry-standard encryption.
Once you've completed the Zenefits Payroll application, click Pending in the Payroll card to download, review, and upload any payroll authorization forms that require notarization. They'll be in the Pending Notarization list, with big Upload Notarized Form buttons next to each that remains.
For best results, scan the forms and upload them as .png or .PDF files.
Once you've received test deposits from Zenefits Payroll in the bank account you've provided, click Pending in the Payroll card, then validate your company's payroll bank account by entering the amounts that Zenefits Payroll deposited into the account.
For added security, banks will sometimes prevent third parties from initiating and completing transactions involving your bank account. To ensure that payroll runs smoothly:
|Company Name||Originator ID|
After completing the above steps, your bank will know that the transactions from Zenefits Payroll are valid.
If you don't see your partners or owners in the list of workers during Zenefits Payroll setup, you'll need to "hire them" in Zenefits first.
If they're not going to be paid in Zenefits Payroll, here's how to add them in Zenefits so they'll show up in the list of owners.
If they're going to be paid in Zenefits Payroll, just hire them as you would any other worker, and make sure the Add to Payroll option is checked.
Voided corporate checks can be uploaded from the Pending page, once the bank account entered during setup has been validated. Zenefits Payroll can't accept personal checking accounts for payroll.
Getting started with Zenefits Payroll as a worker is easy.Workers who are already in Zenefits and have provided all of their bank, tax, benefits enrollment, and personal information don't need to do anything!
Going forward, when you make a change in Zenefits that affects payroll, the change will be updated or added in Zenefits Payroll.
The combination of First Pay Period and First Check Date Pay for a pay schedule in Zenefits Payroll determines when workers are paid for each pay period.
To pay workers:
For example, let's say a company who has Zenefits Payroll and Time & Attendance sets a First Check Date of 7 / 1.
Pay schedules for those who use Time & Attendance must have seven days between end of each period and its pay date to allow enough time for approval of hours.
If you're the administrator who set up the account, just click Pending in the Payroll card to take care of any remaining tasks. Here's a list. Once these steps are complete, look out for an email from Zenefits Payroll that confirms your account is complete. We'll reach out if there are any issues.
If you identified another person as the account's signatory, they'll need to log in to Zenefits using their personal email and click this link to sign forms.
If your company doesn't have paper corporate checks, you can upload a bank statement or letter from your bank to verify your payroll bank account. The statement or letter should clearly show:
Zenefits Payroll's processing period, which is the 2- or 4-day period between your payroll due date and check date, gives Zenefits Payroll enough time to verify that the funds exist in your account, debit the account and transfer funds into our clearinghouse bank, and then transfer them to your employees' bank accounts.
All companies are initially assigned a 4-day processing period. Learn more about upgrading to 2-day processing.
Since ACH debits (e.g., from your corporate payroll account) are usually completed on the following business day, and ACH credits (e.g., to your employees' bank accounts) can take 1-2 days, this processing period takes a minimum of two days.
If you run payroll late, your approval period stays the same, which means your employees will be paid late. For example, if your approval period is four days and your payroll is due on January 25th, but you submit one day later on January 26th, your employees will be paid on January 30th instead of the 29th.
Don't cancel your previous payroll service until you've run your first payroll with Zenefits Payroll. When you have, use this handy template to formally notify your previous provider and request some important tax and payroll information.
Test deposits should show up in your payroll bank account with 1-3 business days.
When a sole proprietor or partner employs their child, spouse, or parent, these family employees may be exempt from paying FICA or FUTA taxes. Make sure to identify these employees so that Zenefits Payroll can withhold the right taxes for them.
The IRS taxes the owners of a business differently from the business' W-2 employees. Depending on the business' entity type, these owners may be partners (e.g., partnerships), shareholders (S Corporations), officers (Corporations) or simply sole proprietors. Payroll providers such as Zenefits Payroll need to know which of a business' employees are also owners of the company in order to determine:
Zenefits Payroll wants to eliminate any potential for misused or incorrectly entered banking information, and relies on a two-step process to verify your payroll bank account. The voided check helps to confirm that you're the owner of the account you've provided. In order to comply with banking regulations, Know Your Business (KYB) and Know your Customer (KYC) requirements have to be validated. We do this to ensure fraudsters have not gained access to your information, as well as, to validate the bank account information we have on file.
Using the copy of a voided business check (or bank statement, if you would prefer not to use a voided check, or don't have paper corporate checks) that you provide for that account, Zenefits Payroll can:
Zenefits cannot support employees age 13 and under. If you have paid employees age 13 and under in the current year, you will not be able to use Zenefits payroll this year.
In Zenefits, your Legal Address must be an actual physical location and cannot be a PO Box or UPS Store. Under CIP rule (31 C.F.R. § 103. 121), which implements §326 of the USA PATRIOT Act, banks and other financial institutions (FIs) must collect certain information. Zenefits moves money for payroll and as such is considered to be a financial institution (FI). This requires us to obtain a Physical Legal Address, as PO Boxes/UPS Store Boxes are not verifiable. PO Boxes and UPS Store Boxes are considered mailing addresses.