Pay Your Employees Direct Deposit
Without expensive payroll software.
Calculate pay in Excel. Generate the bank file. Upload. Done.
The small business payroll dilemma
You have a few employees. You need to pay them direct deposit. Your options seem to be:
Option A: Payroll software
- $50-200+/month subscription
- Per-employee fees on top
- Features you don't need
- Learning curve
Overkill for simple payroll
Option B: Manual bank entry
- Log into bank portal
- Enter each payment one by one
- Repeat every pay period
- Error-prone and tedious
Time-consuming
Option C: EFT Flow
Keep your Excel spreadsheet. We generate the bank file.
- Calculate pay however you want (spreadsheet, calculator, napkin math)
- Import your payment list into EFT Flow
- Export bank-ready file
- Upload to your bank—all employees paid in one transaction
$95/month flat. Pay 1 employee or 100—same price.
How it works
Use Excel, Google Sheets, or whatever works. Calculate gross, deductions, net pay.
Employee name + net pay amount. That's all you need.
Drop your file in. We match employees to their bank details (saved in your vendor list).
One click. Bank-ready file generated.
All employees paid in one file upload. Done in minutes.
What you need to get started
One-time setup
- Employee bank details (get from void cheque)
- Your bank's business account with EFT enabled
- EFT Flow installed
Each pay run
- Spreadsheet with employee names + net pay
- 2 minutes in EFT Flow
- Bank file upload
Example: 5-employee payroll
Your Excel spreadsheet might look like:
| Employee | Gross Pay | CPP | EI | Tax | Net Pay |
|---|---|---|---|---|---|
| John Smith | $2,500.00 | $145.00 | $39.50 | $412.00 | $1,903.50 |
| Sarah Jones | $2,800.00 | $162.40 | $44.24 | $487.00 | $2,106.36 |
| Mike Wilson | $2,200.00 | $127.60 | $34.76 | $337.00 | $1,700.64 |
| Lisa Brown | $3,000.00 | $174.00 | $47.40 | $545.00 | $2,233.60 |
| Tom Davis | $2,400.00 | $139.20 | $37.92 | $387.00 | $1,835.88 |
You do the calculations. EFT Flow just needs the "Employee" and "Net Pay" columns. Import, match to bank details, export file, upload to bank. 5 employees paid in under 5 minutes.
EFT Flow vs payroll software
| Payroll Software | EFT Flow | |
|---|---|---|
| Monthly cost | $50-200+ plus per-employee fees | $95 flat (any number of employees) |
| Calculates pay | Yes (gross → net) | No (you calculate, we pay) |
| Handles deductions | Yes (CPP, EI, tax) | No (you calculate separately) |
| Generates ROEs | Yes | No |
| Files with CRA | Sometimes | No |
| Direct deposit | Yes | Yes |
EFT Flow is for the "payment" part only. If you need software to calculate deductions, generate T4s, and file with CRA—get payroll software. If you handle calculations yourself and just need to get money into accounts—EFT Flow is simpler and cheaper.
Who this is for
Good fit
- Small business with 1-20 employees
- Comfortable calculating deductions yourself
- Already using Excel for payroll tracking
- Want to avoid subscription bloat
- Have an accountant for year-end/T4s
Might need more
- Don't want to calculate deductions
- Need automated ROE generation
- Need CRA remittance automation
- Complex payroll (commissions, tips, benefits)
- Growing rapidly with frequent hiring
FAQ
How do I calculate CPP, EI, and tax?
Use CRA's Payroll Deductions Online Calculator (PDOC), payroll deduction tables, or consult an accountant. EFT Flow doesn't calculate these—we just get the net pay to your employees' accounts.
Is this enough for CRA compliance?
EFT Flow handles the payment part. You're still responsible for calculating correct deductions, remitting to CRA, and year-end reporting (T4s). Many small businesses use an accountant for this while handling day-to-day payments themselves.
What about ROEs?
EFT Flow doesn't generate ROEs. You'd create those through Service Canada's ROE Web when needed.
Can I pay contractors this way too?
Yes. Contractors are often simpler—no deductions. Just create a payment list with contractor names and amounts, import, and pay.
How do I get employee bank details?
Ask each employee for a void cheque or their banking information (institution number, transit number, account number). Enter this once in EFT Flow's vendor list.
Ready to simplify payroll payments?
Keep your spreadsheet. Let us generate the bank file. $95/month flat—no per-employee fees.