Contents of this article are applicable to the following users
Tier: NA
Product: PayrollAny
Platform: Web
Access Level: Owner
When downloading a bank file for salary disbursement, you need to set a Value Date. This is the date that appears on the bank file and determines when funds are debited from your company account for transfer to employees. Setting the right Value Date ensures your employees receive their salaries on time.
This guide will cover how to:
What is Value Date?
The Value Date is the date on which your company's bank debits the salary funds and begins processing the transfers to employees. It is different from the employee's Pay Date:
Value Date — when funds leave your company account
Payment Date — when employees receive their salaries (typically 1–2 business days after the Value Date, depending on whether the employee's bank is the same as your company's bank)
To ensure salaries arrive on the intended Pay Date, upload the bank file to your corporate banking portal and have it approved before the Value Date.
Set Value Date when Downloading a Bank File
Before you start:
The payroll must be finalised and included in a payment before you can download the bank file.
The Value Date field only appears when GIRO is selected as the Bank File Type.
Follow these steps to set the Value Date and download the bank file:
Go to Payroll > Payments and highlight the relevant payrun.
Click Download Bank File.
In the Download Bank File modal, select the Bank File Type: GIRO or FAST.
If GIRO is selected, click the Value Date field and pick a date from the calendar. Weekends and past dates (including today) are greyed out and cannot be selected.
Click Download Bank Files to export the file.
Once downloaded, upload the file to your corporate banking portal and approve it before the Value Date to avoid processing delays.
Value Date Rules
Keep the following rules in mind when choosing a Value Date:
Weekends are not allowed. Saturday and Sunday are greyed out in the date picker and cannot be selected.
Today and past dates are not allowed. The Value Date must be a future date. The system defaults to the next available business day when you open the modal.
Avoid public holidays and bank holidays. These dates are selectable in the calendar, but banks may not process transfers on those days. Selecting a public holiday may cause delays in salary crediting.
These rules apply to GIRO bank files. The Value Date field is not shown for FAST bank files.
FAQ
Why are weekends greyed out in the Value Date picker?
Banks do not process interbank salary transfers on weekends. Selecting a weekend date would cause the transfer to fail or be delayed to the next business day.
Can I select today's date as the Value Date?
No. Today and past dates are not selectable. The earliest selectable date is the next business day.
What happens if I set the Value Date on a public holiday?
The calendar does not block public holidays, but banks may not process transfers on those days. This can delay salary crediting. Always choose a regular business day for your Value Date.
What is the difference between Value Date and Pay Date?
The Value Date is when your company's bank debits the salary funds. The Pay Date is when employees receive their salaries — typically 1 business day later for same-bank transfers and 2 business days later for different-bank transfers.
Does the Value Date apply to FAST bank files?
No. The Value Date field is only required for GIRO bank files. FAST transfers are processed in near-real-time and do not use a Value Date.