Multiple Direct Deposit Examples | University Human Resources

The following examples illustrate how the distribution of net pay is affected by deposit order when you set up multiple direct deposits.

Assume this employee receives $1,000.01 of monthly net pay:

Scenario #1 :

Employee wants $500 to go to a savings account and the rest to go to a checking account at the same institution.

Scenario #1 Deposit Information

Deposit Order	Transit #	Account #	Account Type	Balance Account	Amount	%
1	073913755	555555	Savings	(blank)	$500	0
2	073913755	66666	Checking	√	0	0

Result: $500 will be deposited to savings first. The remaining $500.01 net pay deposits to checking. If the monthly net pay is $425 and the deposit order is the same, then $425 would be deposited into savings and nothing would go to the balance account (checking).

Scenario #2:

Employee wants to divide paycheck 50/50 by percentage between savings and checking accounts at different institutions:

Scenario #2 Deposit Information

Deposit Order	Transit #	Account #	Account Type	Balance Account	Amount	%
1	273975098	555555	Savings	(blank)	0	50%
2	073913755	66666	Checking	√	0	0

Result: $500 (50 percent) of net pay will be deposited to savings first. The remaining $500.01 net pay will go to the balance account (checking).

Scenario #3:

Employee wants to divide paycheck between three accounts by amount: $300 to savings, $400 to checking, and the balance to a different checking account.

Scenario #3 Deposit Information

Deposit Order	Transit #	Account #	Account Type	Balance Account	Amount	%
1	273975098	555555	Savings	(blank)	$300	0
2	073913755	66666	Checking	(blank)	$400	0
3	073000545	98765432	Checking	√	0	0

Result: $300 will be deposited to savings first, $400 to the 66666 checking account next, and the remaining net pay will go to the balance checking account last. If the monthly net pay is $625 and the deposit order is the same, the first $300 deposits to savings, the remaining $325 would go to the 66666 checking account, and nothing would go to the balance checking account.

Scenario #4:

Employee wants to divide paycheck among three accounts by amount and percentage: $300 to savings, 10 percent to checking, and the balance to a different checking account.

Scenario #4 Deposit Information

Deposit Order	Transit #	Account #	Account Type	Balance Account	Amount	%
1	273975098	555555	Savings	(blank)	$300	0
2	073913755	66666	Checking	(blank)	0	10
3	073000545	98765432	Checking	√	0	0

Result: $300 will be deposited to savings first, 10% ($100.00) of total net pay will go to the 66666 checking account, and the remaining net pay will go to the balance account.