Current pay card holders may still use their cards and deposits will continue. New employees must sign up for direct deposit or they will be mailed a paper check.
Payroll professionals can take steps to stop or prevent overpayments by monitoring the payroll register and acting quickly to stop or pull the affected paycheck.
There are a few best practices to keep in mind while creating a Payroll Expense Transfer (PET) to ensure correct accounting, a smooth fiscal year-end and collaboration between departments.