How to set up JP Morgan and HSBC PESO NET Bank File

PESONet (Philippine Electronic Fund Transfer System and Operations Network) is a batch electronic fund transfer (EFT) system that enables businesses to process high-value and bulk payments efficiently. With Sprout Payroll, companies can seamlessly generate bank files for JP Morgan and HSBC, ensuring smooth payroll processing and vendor disbursements.

This guide walks you through the step-by-step process of setting up JP Morgan and HSBC PESONet bank files in Sprout Payroll

• 1. Create a JP Morgan Bank or HSBC Bank.  How to Add a New Bank 

Note: JP Morgan and HSBC are transferring money via PESONET. Do not assign this to the Employee Profile.

2. Create another bank for the destination bank or the receiving bank then assign the destination bank to Employee Profile

• How to Assign a Bank to the Employee in Sprout Payroll? (Not Synced Accounts)
• How to Assign a Bank to the Employee in Sprout HR? (Synced Accounts)

3. Generate a JP Morgan or HSBC DAT file from the Payroll summary

• Select “BANK DAT FILE-OTHER BANKS” under Download Reports in Payroll Run Page
• Select JP Morgan or HSBC as the provider and bank profile. Then, select the release date and input any remarks for the originator's reference. Then hit download to generate the JP Morgan Bank DAT file