... We bank with the HSBC and currently have three employees salaries paid monthly through the bank, their salary payments show as three individual lines on the bank statement and are very obvious as well... Is there a way to make these payments as a batch and show as just one line on the bank statement, so that we can make these payments confidentially? Is it possible and how do we do it? Please help!!
thanks,
Replies (5)
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Sign up for HSBC BACs
You can pay batches of upto 25 payees using this. In your case it would be a batch of 3 payees with one transaction in your bank statement. My application to use this is pending and HSBC have been slow on this.
Business Internet Banking?
Are you using Business Internet Banking? It's easy to register for if you aren't, and I heartily recommend it. And yes, the three (or 25) payments will show as one line - eg "Salaries", or "Suppliers" - you can choose when setting up the payment what to call it.
You can get a payment limit for your primary user, and you can have secondary users who you can restrict access for, if you like. Go on, take the plunge.
Salaries
I used to operate a payroll for the directors only. The staff salaries were computed in house. As the business bank account was operated by a very nosy employee, we set up a second bank account. A transfer was made from the business account (no 1) to the salaries account (no 2). This transfer then showed as one line only, and the directors then made the salary transfers from the no 2 account.