About Current Account Integration

Prerequisites

• You must have a

  RazorpayX - Current Account

  .

• Share your Razorpay MID when you request for the integration. You can find this on the

  RazorpayX Dashboard

  on the top-right corner under Profile.
  

• There should not be any Pending transactions in the ledger for your organization (Reports → Ledger). You cannot integrate if there are pending transactions.

• There should be no balance in your XPayroll account before integration.

  • If there is any balance, add the Current Account as a

    Contractor

    and

    transfer funds

    to this account.

  • Select Reimbursement / No TDS for the transfer.

Points To Remember

The integration process is easy and does not require much effort. However, there are a few things to keep in mind before you request for the integration. They are listed as follows:

Approval Workflows

Approval Workflows or maker-checkers in RazorpayX provide different permissions to the team members. As such, you might have Transactions Pending for Approval on the XPayroll Dashboard.

• If you have

  approval workflows (maker-checker)

  enabled on your RazorpayX account, the same is applicable to all transactions originating from XPayroll by default.
• The transactions made in XPayroll (salary, contractor payments, reimbursements, advance salaries, and compliance payments) follow the Approval Workflow (in terms of both amount and approvers) that you have set up on RazorpayX.
• These transactions are not executed until they are approved from the

  RazorpayX Dashboard

  .

Watch this video to know more about the approval process on RazorpayX.

Visibility Of Transactions On RazorpayX Dashboard

With the integration, all your transactions will happen via your RazorpayX account. These are visible on the RazorpayX Dashboard under Payouts and Account Statements.

• Every user who has access to your RazorpayX account can view the transactions that originate from XPayroll on the RazorpayX Dashboard.
• All transactions, like salary transfers, contractor payments, reimbursements, salary advances and compliance payments, among others, are visible on the RazorpayX Dashboard.

Post Integration

Once your RazorpayX powered Current Account is integrated with XPayroll:

• Your RBL Current Account balance replaces the XPayroll Account on the XPayroll Dashboard, as shown.

  

  You will see the balance of the current account.

• Your XPayroll Account becomes non-functional.

  Watch Out!

  Do not transfer any funds to your XPayroll account after the integration since you cannot access this account.

• All your transactions and payments from XPayroll will now happen from your Current Account.

• For your employees, your company name reflects on the bank transfer narrations.

• You do not have to transfer funds between multiple accounts.

Remove Integration

You can choose to remove the integration between XPayroll and RazorpayX powered Current Account.

Related Information

• RazorpayX - Current Account

• Approval Workflow

• Integrations