To better understand which file is a better choice for you, here's how:
Bank File (FAST)
- Shows the breakdown of all employees' salaries in the bank statement, which could be a potential confidentiality issue.
- FAST essentially allows you to transfer funds between banks instantly. However, each transaction for FAST payment is charged a more expensive rate compared to GIRO.
- Not SAL coded.
Bank File (GIRO)
- The preferred option because it displays 1 transaction line only in the bank statement for the whole batch payment.
- SAL coded by default.
Hope this helps you to make a more informed decision 😁