Bank Statement Descriptions for Payroll Transactions
Background
When Patriot moves money to or from a bank account, the description that appears on the bank statement depends on the type of transaction. Use the reference below to identify what each description means.
- Employee and contractor payments: The description shows the employer’s DBA name (truncated to 16 characters), not Patriot. This is because the funds are coming from the employer, not from Patriot.
- Collections from the employer: The description includes Patriot Software’s name because Patriot is the originator of the ACH debit and will be the temporary receiver of the money before distribution to employees.
Description Reference
| Transaction type | Description shown on bank statement |
|---|---|
| Penny verifications | Patriot Software ACCTVERIFY |
| Tax collections | Patriot Software PAYROLLTAX |
| Direct deposit collections from employer | Patriot Software PAYROLL |
| Direct deposit prefund collections from employer | Patriot Software PREFUNDING |
| Direct deposit employee payments | [Company DBA Name] PAYROLLDBA name truncated to 16 characters |
| Contractor direct deposit collections from employer | [Company DBA Name] CTRPAYROLLDBA name truncated to 16 characters |
| Wire variance collections and refunds When the employer sends too little or too much for a bank wire | Patriot Software WIRE |
Also see: Setting up Direct Deposit in Payroll
Your feedback will not receive a reply. If you have a specific issue, please reach out to our support team here.