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      PayKonnect 401k File Feed Setup

      PayKonnect is our integration partner for 401k file feeds. We have the ability to log into the PayKonnect portal to create new client companies and new 401k file feeds for our clients. 

      Communication will need to be had with the client's 401k provider prior to sending a test file to confirm any file specific details the provider requires and to confirm they are ready to receive a test file.

      Steps to Create New Company in PayKonnect

      1. Log into PayKonnect. 
      2. Navigate to 401k > Company. 
      3. Select Create New.
      4. Input Company Name, Company Code*, Tax ID Number, Payroll Provider, Company Short Name, Start Date, Earning List ID for Plan Eligible Wages*, and Earning List ID for Gross Wages*.

        *Note: Company Code is the Company ID field within the All System Companies Report in Ready.


        *Note: The Earning List ID is the System ID field in the Earning Lists report for the Earning List a client uses for their employee retirement contributions. 
        To find the Earning list ID: Log in as SA for the company > Navigate to Payroll Setup > Lists > Earning Lists. You may need to bring in the System ID field. 
      5. Optional: If client does not have HR, the Marital Status Override field will need to be populated with the company's appropriate Account Extra Field in Ready. The name convention is EmplCustomX (X being the corresponding Account Extra field it is set up as). 
        Example:
        Field in Ready

        Field in Paykonnect
      6. Optional: Enter EmplEmployeeID in the Employee ID Override field only if the company uses "Alpha-Numeric" Employee ID Format. If company does not, leave blank.

        Note: To confirm Employee ID Format: Log in as SA for the company > Navigate to Global Setup > Company Setup > Global Policies > Account Policies. 



      Steps to Create New Plan for a Company

      1. Navigate to 401k > Company.
      2. Select the Company you wish to create a plan for.
      3. Select Create New Plan.
      4. Choose the company's 401k provider from the dropdown list. 
      5. Set Plan Type to 401k. Note: If multi-EIN client, set plan type to 401k split.
      6. Enter Plan Name. Format is Company Legal Name - Short Name. Ex. Mobile Images Acquisition LLC - MOBIMAGES.
      7. Status should be set to Test during the test phase. 
      8. Select Pay Frequency. Note: This field is informational only. If a client has multiple pay frequencies, pick the one that is most frequent. 
      9. Enter Plan ID. Note: Plan ID is the client's Company ID from Ready. Company ID column can be brought into the All Company Report.
      10. Enter Division Code 
      11. Check box for Enable FTP. Note: This activates the integration for a test file or live file to be sent to the client's provider. 
      12. Additional settings will need to be turned within the Advanced Settings and Filters tab and Provider Settings tab depending on the Provider's requirements. Reference the Investment Company Handbook found in System > Help.

      Steps to turn on PayKonnect's API access in Ready 3s

      1. Log into Ready Parent Admin.
      2. Navigate to Company > Company Information > Main > Extra Fields. 
      3. Set the PayKonnect API access to "YES"
      4. Save.

      Steps to turn on PayKonnect's API access in Ready 5-1

      1. Log into Ready 5-1 Admin.
      2. Navigate to Company > Company Information > Main > Extra Fields. 
      3. Set the PayKonnect API access to "YES"
      4. Save.
      5. Navigate to Maintenance > Admin Company > Company Groups > Edit Paykonnect Group.
      6. Add company to group filter. 
      7. Save.