The TALX Paperless Pay program, part of the Equifax family of financial solutions, allows the company to make payments to employees electronically, eliminating the need for paper checks or records by using a direct deposit system. It also allows employees to log into a self-service portal to review pay stubs, make choices in regards to tax withholdings, and review other payment details.Continue Reading
The Equifax Paperless Pay program integrates with TALX's existing financial systems by linking with its bank accounts, establishing one or more as a funding source for issuing paychecks. Each employee is then able to sign up for a user account with the system and provide personal and financial information to create a direct deposit link between the company's account and a personal banking account. After the employee makes the appropriate selections for tax withholdings, the system automatically generates a payment according to the TALX pay schedule, sending the funds to the employee's account immediately.
Each employee is able to review a pay stub through the Paperless Pay portal that includes details about the gross payment, all deductions and withholdings, and any additional adjustments. The system also automatically creates the necessary tax forms for employees, such as the W-2 form for individual income taxes. Managers and members of the accounting department may also access the accounts to review payments, generate reports or access other documents.Learn more about Personal Banking